Sheng Bao Bank: Gold prices may touch $2500 due to weak economy

On August 4th, Jinshi Data reported that Ole Hansen, head of commodity strategy at Shengbao Bank, said that if economic data continues to weaken, the spot gold price could quickly reach the $2500 mark. The prospect of a Fed rate cut, coupled with ongoing geopolitical tensions, rising debt concerns, and new demands from central banks and ETF investors, is expected to further support and pump up the gold price.