Analyst: Precious metals have lost some geopolitical premium, but still believe gold prices could reach $5,000

According to Odaily, Marex analyst Edward Meir stated: “After several consecutive weeks of sharp gains, commodities as a whole have pulled back, with some profit-taking occurring. The easing of tensions in the Middle East has also caused gold and other metals, especially silver, to lose part of their geopolitical premium.” As protests in Iran have subsided, U.S. President Trump has adopted a wait-and-see approach, and Russian President Putin has intervened to mediate, geopolitical tensions appear to have eased. Meir said: “I still believe that gold prices have a chance to reach $5,000 at some point this year, but there will be significant corrections along the way.” (Golden Ten Data)