Analyst: After the impact of the Iran war fades, monetary factors will drive gold prices to test $5,000

(1) Adrian Day, President of Adrian Day Asset Management, stated that the market is still digesting the impact of the Iran war, but the long-term drivers that could push gold prices above $5,000/oz will soon come back into play. (2) He pointed out that geopolitical events usually only have a short-term impact, and most of the effect occurs before the event. Gold prices rose by more than $500 in the week before the US and Israel attacked Iran, but have since given back part of those gains. Next week, a consolidation may occur as the "sell the fact" trend continues. (3) Day expects that as geopolitical shocks subside, the monetary factors that have dominated gold prices in recent years will once again become the main driving force in the market, pushing gold even higher.