Imperial Bank of Commerce: Gold will rise to $4,500 in the next two years

In her latest forecast, Anita Soni, an analyst at Canadian Imperial Bank of Commerce Capital Markets, predicts that gold prices will rise to $4,500 per ounce in 2026 and 2027, before falling back to $4,250 in 2028 and $4,000 in 2029. The analyst stated that she still expects gold to face a positive macroeconomic environment. Uncertainty regarding tariffs will persist, and the negative impact of tariffs implemented to date and those expected to be implemented on consumer purchasing power has yet to fully manifest in the US economy. Meanwhile, the Federal Reserve succumbed to Trump's calls for rate cuts earlier than Soni expected. Soni believes that while the rise in gold prices earlier this year was related to rate cuts, the recent parabolic surge stems from concerns about long-term inflation and wealth preservation, as the Fed's monetary policy has not specifically focused on long-term inflation. (Gold Ten)