Daiwa: Raises gold price year-end target to $3800 per ounce.

Morgan Stanley has raised its year-end target for the price of gold to $3800 per ounce. The bank emphasized that the negative correlation between gold and the US dollar remains the core pricing logic, and if the US dollar continues to weaken, it will be beneficial for the trend in precious metal prices. Historical data also shows that after each Fed rate cut cycle begins, gold and silver often see significant increases in the following two months, providing important reference for the current market.