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Investing.com -- Gold prices are expected to rise above $4,400 an ounce in the first half of 2026, according to Bart Melek, head of commodity strategy at TD Securities.
The forecast comes as the Federal Reserve is expected to ease monetary policy amid rising inflation, while central banks and private funds continue to purchase the precious metal.
Gold has already achieved a record-breaking rally, climbing above $4,000 per ounce. This surge has been driven by discussions about de-dollarization and China’s plans for bullion custody.
Investors are increasing their gold holdings due to fear of missing out and expectations that a U.S. government shutdown could lead to additional interest rate cuts.
Melek warned that gold appears overbought at current levels. He noted that any doubts about the pace of Fed easing or an increase in market volatility could trigger a sharp pullback in the near term, potentially reversing gains made during the late-summer rally.
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