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00:02Gold's sharp sell-off has pushed it into bear market territory,
00:06while some market veterans maintain ambitious long-term forecasts, according to CNBC.
00:11Bullion extended its decline Tuesday, with spot gold down 1.5% at $4,335.97,
00:20futures down about 2% to $4,317.80, and silver also falling.
00:27Gold has fallen about 21% from its late-January peak of $5,594.82, placing it firmly in a
00:36bear market.
00:37Strategists said the slump reflects short-term dislocations while geopolitical risks,
00:42central bank demand, and a weaker dollar outlook continue to support a long-term bull case for gold.
00:47Ed Yardini maintained a $10,000 target by 2030, while lowering his year-end forecast to $5,000 from $6
00:55,000,
00:55still about 15% above current levels.
00:59Justin Lin at Global X ETF maintained a $6,000 year-end gold target and said the sell-off reflects
01:05short-term factors.
01:07The strategist faced his bullish outlook on geopolitical uncertainty,
01:11central bank demand, and Asian ETF inflows rather than war-related risk premia.
01:15For all things money, visit Benzinga.com.
01:18For all things money, visit Benzinga.com.
