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Gold's Bull Run: Is $4,800 the Next Target?
8 Jan
Summary
- Gold may reach $4,800 per ounce as US political/economic climate supports prices.
- Silver is the most bullish precious metal, targeting $100 amid supply deficits.
- Base metals like copper are expected to rise due to Chinese policy support.
Jonathan Barratt, Chief Investment Officer at ETO Markets, suggests that the current political and economic landscape in the US is a strong tailwind for gold prices. He anticipates a potential long-term trajectory for gold towards $4,800 per ounce once market stability returns.
Barratt views the recent dip in commodity prices as a natural phase of profit-taking following a robust start to 2026, rather than a signal of a market downturn. He emphasizes that individual commodity sectors possess distinct fundamental drivers, contributing to overall market stability.
Within precious metals, silver is Barratt's top conviction for long-term growth, eyeing a potential climb past $82.50 towards $100 per ounce, bolstered by China's dovish monetary policy and persistent supply deficits. He also notes that base metals like copper are experiencing a healthy correction, with future gains expected due to demand from China's green economy transition and supportive monetary policies from the People's Bank of China.
