Analysis: Spot gold price surpasses $3,800/oz; institutions say there is still room for medium- to long-term growth

Jinse Finance reported that institutional insiders believe that, supported by factors such as the Federal Reserve's interest rate cuts, gold prices still have room for long-term growth. The UBS Wealth Management Chief Investment Office (CIO) predicts that by mid-2026, the gold price may reach $3,900 per ounce. From a domestic perspective, the CIO stated that although China's investment demand for gold has weakened in recent weeks due to the rise in its domestic stock market, with the continued increase in gold prices, China's gold ETF holdings are expected to recover. In addition, the latest policy address in Hong Kong plans to expand gold reserves in Hong Kong and establish a central gold clearing system, which is also expected to provide support for gold prices.