Gold Prices May Rebound to $5,000 per Ounce Today, Analyst Says; $6,000 Target Unlikely

According to Rick Kanda of The Gold Bullion Company, gold prices may still rebound to around $5,000 per ounce this year, though the $6,000 per ounce target proposed during last year's rally is now unlikely to be achieved. Kanda stated: "I think the $6,000 per ounce prediction may be out of reach. However, if global central banks continue their gold buying momentum, gold has a good opportunity to touch the $5,000 level." Kanda noted that macroeconomic factors have shifted, reducing gold's appeal as a safe-haven asset compared to last year.
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