Zhongjin: The current gold bull run may not be over yet, and a breakthrough of 5000 dollars next year cannot be ruled out.

PANews, November 17th - According to a report by CICC, the outlook for 2026 suggests that from a historical comparison perspective, this round of the gold bull run may not yet be over. The rise and duration of the current gold bull run are still lower than the two major rising cycles in the 1970s and 2000s. Considering the current macroeconomic uncertainties, the long-term adjustment of global reserve structures, and the potential downward cycle of the dollar, we believe that the gold bull run has not reached its end. Unless the Fed completely ends the easing cycle or the U.S. economy re-enters a strong recovery phase characterized by “falling inflation + rising growth,” the logic for mid-term gold price increases will remain. If the current trend continues, there is a possibility that gold prices may break through $5,000/ounce next year. Although the bull market logic is clear, gold is indeed one of the major assets that are currently overvalued, which may increase asset fluctuations. We recommend maintaining an overweight position in gold, but reducing momentum investing operations, adopting an investment strategy of accumulating on dips and Auto-Invest, and focusing more on the long-term asset allocation value of gold.