Gold at $6000 Canceled: Analyst Blames War Renowned trend analyst Gerald Salante has abandoned his prediction that gold will reach $6,000 an ounce by the end of 2026. He named the main reason the war in the Middle East, which, in his opinion, changed the movement of capital and prevented gold from increasing in price due to inflation. Now the expert predicts that the metal will approach $4,500 per ounce by the end of the year. However, he still sees gold as a hedge against currency depreciation and continues to buy it regardless of the current price. Salante also said that financial markets are susceptible to manipulation and the global economy is facing "dragflation" - a situation in which the economy contracts but prices continue to rise.

Gold at $6000 Canceled: Analyst Blames War Renowned trend analyst Gerald Salante has abandoned his prediction that gold will reach $6,000 an ounce by the end of 2026. He named the main reason the war in the Middle East, which, in his opinion, changed the movement of capital and prevented gold from increasing in price due to inflation. Now the expert predicts that the metal will approach $4,500 per ounce by the end of the year. However, he still sees gold as a hedge against currency depreciation and continues to buy it regardless of the current price. Salante also said that financial markets are susceptible to manipulation and the global economy is facing "dragflation" - a situation in which the economy contracts but prices continue to rise.