Goldman Sachs is bullish on the price of gold rising to $5000.

On the evening of July 1st, the prices of gold and silver surged. Spot gold returned above $4000 per ounce, reaching $4023.53 per ounce as of 19:35. Spot silver was at $58.84 per ounce, up 0.48% on the day. It is worth noting that during off-market trading, the price of gold also rose by 0.48%, but the price of silver quickly dropped, with the increase narrowing from 4% to 0.2% rapidly. Influenced by factors such as increased uncertainty in US-Iran negotiations, a stronger US dollar, and expectations of a rate hike by the Federal Reserve, international gold prices fell by more than 11% in June. Gold prices in the second quarter of this year fell by about 14%, marking the largest quarterly decline since 2013. According to a report from China Gold Network, Samantha Dart, co-head of global commodity research at Goldman Sachs, stated that the recent 4-month decline in international gold prices does not mean that the upward trend for the full year has ended, and global central bank demand will continue to drive precious metal prices to nearly $5000 per ounce.