Dominion Securities: De-dollarization and Fed easing expectations may drive gold prices to break above 4400 dollars next year.

Jin10 data reported on October 8th that Bart Melek, Head of Commodity Strategy at TD Securities, stated that with the Fed gradually easing policies against the backdrop of rising inflation, while central banks and private funds continue to buy gold, gold prices are expected to break through $4,400 per ounce in the first half of 2026. Driven by factors such as the de-dollarization discussion, gold prices have currently reached record highs, surpassing $4,000 per ounce. Investor fear of missing out (FOMO), as well as expectations that a U.S. government shutdown may lead to interest rate cuts, have also prompted investors to increase their exposure to gold. However, Melek warned that gold appears to be in an overbought state, and added that any concerns about the pace of Fed easing or increased market volatility could trigger a significant pullback in the short term, even reversing the summer's gains.