Amundi remains optimistic about a rebound in gold prices, stating that the worst stage is over.

(1) Europe’s largest asset management company, Amundi, expects that after gold prices recently dropped to a three-month low, they could rebound to around $4,500 per ounce. (2) Lorenzo Portelli, Head of Cross Asset Strategy at Amundi Investment Institute, stated that “the worst stage is over.” Following last week’s pullback, traders’ positions are light, which benefits a rebound in the coming weeks. (3) Gold prices have recently hovered around $4,000 per ounce, and market sentiment has recovered after a noticeable cooling. (4) Attention will be paid to the pace of position replenishment and disruptions to rate cut expectations from macroeconomic data. If capital inflows resume, the room for further gold price rebound may expand.