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2026-02-13 20:23:34
Gold rebounded 0.7% on Friday, with ANZ raising its target to $5,800. ⑴ Gold rose 0.7% to $4,951.90 on Friday, rebounding from a near one-week low on Thursday, driven by bargain hunting. Investors are closely watching US inflation data released later in the day for clues about the Federal Reserve's policy outlook. ⑵ Hamad Hussain, climate and commodities economist at Capital Economics, said that bargain hunting by Asian market participants drove the gold price rebound, with demand for gold in the region consistently strong. Demand is robust in the Chinese market as the Lunar New Year holiday approaches, while the Indian market saw its first discount in a month this week due to price volatility. ⑶ Gold fell about 3% on Thursday as strong US jobs data dampened expectations of interest rate cuts. Selling pressure intensified after breaking below the $5,000 mark. However, independent analyst Ross Norman pointed out that these movements seem unrelated to market fundamentals, and the fundamentals for the entire precious metals sector remain positive. (4) ANZ Bank raised its second-quarter gold price forecast to $5,800 from $5,400 on Friday, emphasizing that gold remains a safe-haven asset against numerous uncertainties. (5) From an allocation perspective, Asian physical demand and upward price target increases by institutions are resonating. Market focus is entirely on tonight's US CPI data. If inflation falls more than expected, it could reignite expectations of interest rate cuts, providing further upward momentum for gold prices; if the data remains strong, the short-term rebound may face a test.
