Institution: Gold prices may remain between $3,100 and $3,500 per ounce this year

Strategists at State Street Global Advisors have indicated that the gold market may have entered a higher price range above $3,000 per ounce for the remainder of this year. The baseline scenario forecast from State Street Global Advisors suggests that even if global trade tensions ease, gold is still expected to maintain record price levels between $3,100 and $3,500 per ounce this year. "Our optimistic scenario anticipates that under certain macroeconomic conditions, including stagflation and accelerated de-dollarization, gold prices will approach $4,000 per ounce within the next six to nine months." These strategists believe that several thematic factors support a bullish gold price environment, such as the potential increase in inflows into gold ETFs, a rebound in Chinese consumer demand for gold, and expectations of interest rate cuts by the Federal Reserve