OCBC Group Research cuts its gold forecast amid a more challenging near-term macro backdrop, according to a research report. A key issue for gold is U.S. real-yield repricing, especially in the run-up to potential Fed tightening, says Christopher Wong, a precious metals strategist. Gold is typically "more vulnerable when markets are still repricing the real-rate path higher," Wong says. "That risk is more acute when higher real yields are accompanied by USD strength and ETF or investor liquidation," Wong adds. OCBC cuts its end-2026 forecast for gold to $4,360 an ounce from $5,100 an ounce previously. Spot gold is 0.8% lower at $3,982.56 an ounce. (ronnie.harui@wsj.com)
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OCBC Cuts Gold Forecast Amid More Challenging Near-Term Macro Backdrop — Market Talk
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OCBC Group Research cuts its gold forecast amid a more challenging near-term macro backdrop, according to a research report. A key issue for gold is U.S. real-yield repricing, especially in the run-up to potential Fed tightening, says Christopher Wong, a precious metals strategist. Gold is typicall…