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Gold Price Forecast: Central Bank Buying Supports Demand

calendar_today June 2, 2026 person Dan Mitchell domain capital-com-public-api

Gold trades near $4,529.54, supported by sustained central bank purchasing of 863 tonnes in 2025 and safe-haven demand amid US-Iran geopolitical tensions. Major banks project annual averages of $4,900-$5,243/oz but maintain higher year-end targets of $5,400-$6,300/oz. Elevated US real yields and monetary policy expectations present headwinds to near-term sentiment.

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