BlockBeats News, May 11th, according to an analyst from ING Group, despite the short-term market volatility still being affected by the US-Iran situation, the gold price could still rise to $5,000 within the year.

The analysis points out that the short-term price of gold is mainly driven by real interest rates, the USD trend, and Fed policy expectations, but with the easing of related pressures, the medium to long-term support for gold is expected to return. If the Iran conflict achieves lasting de-escalation, it will become a key trigger for continued gold price increases.

The current market is focusing on the upcoming US CPI inflation data to find clues about the interest rate path. As expected, gold futures rose slightly by 0.1% to $4,736 per ounce.