美政府关门再添一把火！BMO疯狂上调金价预测：明年均价4400！

Core Viewpoint - The recent U.S. government shutdown has raised concerns about the country's growing debt, which is seen as a new driver for gold prices to rise by the end of the year [1][3]. Group 1: Gold Market Insights - Spot gold prices have recently surpassed $3,870, with Comex gold futures reaching above $3,900 [1]. - BMO Capital Markets has significantly raised its price forecasts for gold and silver, predicting an average gold price of around $3,900 per ounce in Q4 2025, an 8% increase from previous estimates [3]. - Analysts expect gold prices to exceed $4,000 per ounce next year and project an average price of $4,400 per ounce by 2026, a 26% increase from earlier forecasts [3]. Group 2: Geopolitical and Economic Factors - Analysts note that geopolitical and financial system changes over the past 2-3 years have led to lasting shifts in gold demand [4]. - Concerns about U.S. debt levels are becoming more prominent, with analysts identifying these worries as a key driver of gold's price increase [4]. - The growing interest in gold as a hedge against long-term currency devaluation is evidenced by strong inflows into gold ETFs [4]. Group 3: Silver Market Insights - BMO expects silver to outperform gold in the near term, forecasting an average price of $45 per ounce in Q4, a 41% increase from previous estimates [5]. - The silver price is projected to reach $50 per ounce by Q2 next year, with an average price of $49.50 per ounce in 2026, a 57% increase from earlier predictions [5]. - Strong industrial demand is expected to support silver prices, with analysts highlighting its potential for greater elasticity compared to gold due to its industrial applications [6].