How much will gold prices be after 1 year? Global giants pointed to 5 thousand dollars

In the gold market, short-term interest pressure and long-term rise expectation come to the fore at the same time.

While the focus of the markets is on the September meeting minutes of the US Federal Reserve (Fed), investors are looking for new signals regarding the interest rate path.

With a cautious trend, spot gold fell to the level of 4,106 dollars.

5,013 DOLLARS ESTIMATED FOR GOLD

Expectations for the next 12-month outlook for gold were shared at the annual conference of the London Bullion Market Association (LBMA) held in Sorrento, Italy.

Delegates attending the conference predicted that ounce gold could reach the level of 5,013 dollars in the next 12 months.

This estimate is significantly above current spot prices.

EYES ON FED MINUTES

Interest rate messages from Fed officials are effective in the short-term pressure on gold.

San Francisco Fed President Mary Daly said that whether additional interest rate hikes are required depends on whether the factors that push inflation up are temporary or permanent.

Kansas City Fed President Jeff Schmid argued that interest rates should be increased further to control inflation.

The probability of an interest rate increase in December is priced at 85 percent in the markets.

High interest rates put pressure on short-term prices by reducing the appeal of gold, which does not provide interest income.

THE USA-IRAN LINE IS ALSO BEING FOLLOWED

Geopolitical developments in the gold market are also closely monitored.

US Vice President JD Vance said Iran must "significantly" reduce its nuclear enrichment capacity to end the war.

Expectations regarding the Fed's interest rate path and developments in the US-Iran line are expected to be decisive in the short-term direction of gold prices.