金属：黄金牛市逻辑正在兑现-metal&ROCK-Gold Bull Case in Play

Key Takeaways metal&ROCK | Europe Gold: Bull Case in Play Gold surpassed our $4750/oz 2H forecast, but we don't think prices have peaked, with geopolitical risks, positive signals from central banks, and ETF buying. We highlight our bull case: $5700/oz for 2H. Silver price momentum looks strong, with physical premiums in Shanghai highlighting tightness. January 23, 2026 08:03 PM GMT A central bank shift? A structural shift in central bank gold buying took place in 2022, and it is increasingly clear that gol ...