OCBC forecasts gold target of US$2,750 per ounce for 2025

Gold prices are expected to remain range-bound in the first quarter, but with central banks gradually lowering interest rates, they may gradually rise, with an annual target of US$2,750 (HK$21,450) per ounce, expects Cindy Keung Ching, Greater China economist at Oversea-Chinese Banking Corporation.
Factors that had been driving gold prices higher in the short term have eased, including a potential slowdown in rate cuts, temporary geopolitical stability, and a decline in central bank and retail demand, Keung said.
Although rate cuts may slow, the overall easing trend continues, with a positive medium to long-term outlook for gold, though surpassing US$2,800 per ounce might only be achieved next year, Keung added.

(Melody Chen)