Francisco Blanch, global head of commodities and derivatives research at Bank of America Securities, told Kitco News that the current correction in precious metals prices is a result of short-term geopolitical uncertainty. “Both gold and silver will rise in price in the second half of 2025,” Blanch said.
Previously, in an interview with CNBC – an American financial news channel – an expert from Bank of America Securities predicted that the price of gold could reach $3,500/ounce in the first six months of 2025. In fact, his prediction was quite close when in the middle of the second quarter of 2025, the price of the June gold futures contract on the Comex floor recorded $3,442.3/ounce.
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Francisco Blanch said the gold market is currently in a correction phase that could last several months. “We remain optimistic in the long term, perhaps by the second half of 2025 or by 2026, that gold will surpass $4,000 an ounce. Gold has come very close to $3,500 an ounce a few times, but to surpass that level and continue to rise, it must be in the context of geopolitical volatility and policy uncertainty,” said Francisco Blanch.
As of noon on May 25, 2025, Vietnam time, the world gold price is still trading below the 3,300 USD/ounce mark. On the Kitco floor, the gold price is listed at 3,296.1 USD/ounce, equivalent to about 103.64 million VND per tael, 14.66 million VND/tael lower than the selling price of SJC gold at the same time.
According to the forecast released in early April 2025, HSBC also estimated that the average gold price in 2025 and 2026 will be $3,015/ounce and $2,915/ounce, respectively. The bank analyzed that geopolitical risks – including the Russia-Ukraine war and tensions in the Middle East – along with changes in US foreign policy and unstable economic factors are creating pressure to push gold prices up.
Source: https://doanhnghiepvn.vn/kinh-te/du-bao-gia-vang-co-the-tang-soc-vao-cuoi-nam-2025/20250529084442344
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