DBS Maintains A-Shares Outperformance Forecast, Predicts Gold to Hit $5,300/oz by Year-End

According to DBS's Hong Kong investment strategy team, the bank maintains its view that A-shares will outperform H-shares and forecasts gold prices to reach $5,300 per ounce by year-end. Strategy analyst Lim Tze Huan noted that recent improvements in Hong Kong stocks stem from two factors: easing concerns about U.S. Federal Reserve rate hikes this year and a shift in global tech hardware positioning toward other sectors. Despite recent gold price pullbacks, DBS views this as temporary speculative liquidation and expects gold to resume its safe-haven role, supported by central bank gold purchases.
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