Gold Steadies Near $4,000 as Traders Weigh Interest-Rate Outlook

Summary

Suki Cooper, Global Head of Commodities Research at Standard Chartered, discusses the precious metals outlook. She remains medium-term bullish on gold with a $5,150 target driven by record central bank buying intentions, despite near-term macro headwinds. She also favors silver and platinum on robust demand and supply deficits, while palladium faces pressure from accelerating EV adoption.

• Gold near-term fragile but medium-term bullish, price target $5,150.
• Record 45% of central banks intend to increase gold reserves in next 12 months.
• Silver and platinum benefit from robust industrial demand.
• Platinum market likely undersupplied for next couple of years.
• Palladium under pressure due to Middle East conflict reinvigorating EV concerns.
• Gold ETFs turned negative this year, adding near-term headwinds.