Analysis: Gold may break out of the Q2 collapse, and structural support and core catalysts are in place

Comparing news, the price of gold experienced a sharp sell-off after hitting a record high of nearly 5,600 US dollars earlier this year. In the three months to June, gold recorded its worst quarterly performance since 2013, and the current continuous rebound is quickly repairing this technical gap. Driven by a combination of factors, gold is expected to break out of the haze of having previously recorded its worst quarterly performance in ten years. In a two-way game of long-term structural deficits and short-term pullbacks, Wall Street is anchoring the gold price target for the next 12 months at 5,400 dollars.

Despite long-term structural factors that are biased towards optimism, many analysts warned that gold will still face significant macroeconomic resistance and potential pullback pressure in the short term. (CNBC)