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Seeking Alpha05:26 ET

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BenzingaAug 27 09:42 ET

Prospects of interest rate cuts boost the price of gold, and gold bulls cheer.

According to the CFTC data, net long positions in gold have reached the highest level in over four years. UBS Group predicts that by the fourth quarter of this year, the price of gold will rise to $2600, while Citigroup predicts that it will rise to $3000 by next year.

wallstreetcnAug 26 06:44 ET

Will gold continue to rise tonight after re-entering the $2500 mark? The industry is focusing on the Jackson Hole Annual Meeting, and gold is expected to continue to push higher.

① Once the annual meeting hints at a 50bp rate cut, the usd may continue to weaken, while gold and US stocks are expected to continue to rise; ② Based on the average performance of gold in the past ten years, gold prices tend to strengthen initially after the Jackson Hole meeting starts; ③ Recently, gold has been on a continuous uptrend, with a significant increase in COMEX net long positions and global gold ETF inflows providing support for gold prices.

cls.cnAug 23 08:06 ET

UBS: The market is gradually adapting to the gold price of $2500, and there is still room for increased allocation in the future.

UBS Group expects that as the Federal Reserve begins to cut interest rates, the holding cost of gold will decrease, leading to further inflow of funds into gold ETFs. Seasonal demand will drive the physical demand for gold in China and India to rebound. In addition, central banks around the world are still buying gold, and emerging market central banks still have room to increase their shareholding of gold.

wallstreetcnAug 23 02:49 ET