TechFlow news, November 24 — According to Jinshi Data, a research report by CICC indicates that unlike the past three years, the current rise in precious metals is primarily driven by cyclical demand for gold, while silver's price increase has outpaced that of gold. Looking ahead to 2026, the firm expects cyclical demand and structural trends to continue driving prices of gold and silver upward. In its base case scenario, the firm forecasts COMEX gold prices to reach $4,500 per ounce and silver prices to reach $55 per ounce by 2026, indicating further upside potential from current levels. The firm believes cyclical investment demand for precious metals has not yet peaked, as U.S. monetary policy may turn accommodative in the short term, while the risk of long-term inflation expectations becoming unanchored could persist. On the other hand, under the new macro order, the unique allocation value of physical gold and silver's attributes as a strategic resource will become increasingly prominent, providing structural support for global central bank gold purchases, private physical investment, and regional inventory accumulation.
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