Analysts say gold price may hit $5000 this year

Marex analyst Edward Meir stated that commodities have fallen overall after several weeks of gains, leading to profit taking. The easing of tensions in the Middle East has caused gold and other metals to lose some of their geopolitical premiums. With the easing of protests in Iran, US President Trump adopting a wait-and-see attitude, and Russian President Putin intervening in mediation, geopolitical tensions have eased somewhat. Meir believes that there is a chance for gold prices to touch $5000 at some point this year, but there may be a significant pullback during this period.