Natixis Maintains $4,600 Year-End Gold Target as Central Banks Prepare to Ramp Up Purchases

According to Natixis precious metals analyst Bernard Dahdah, he is maintaining his year-end gold price target of $4,600 per ounce despite gold retreating to around $4,100 from record highs above $5,500. Speaking with Kitco News, Dahdah said the next phase of gold's bull market will be driven by renewed buying from central banks seeking to rebuild reserves following geopolitical disruptions, particularly the Iran-U.S. conflict. He expects central banks will record significant monthly gold purchases in the second half of the year as they increasingly diversify away from U.S. dollar assets amid shifting perceptions of U.S. stability.
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