Barclays Bank: Gold prices do not appear to be overvalued. Gold ETF holdings are at their highest since 2022.

Barclays bank strategist said in a report last Sunday that gold prices do not seem to be overvalued compared to the US dollar and US Treasury bonds; Considering the risk nature of the Federal Reserve possibly losing its independence, the price of gold should include a certain degree of Federal Reserve-related premium. Gold prices have soared by more than 40% so far this year, driven by central bank demand and stimulus from the Federal Reserve to cut interest rates, reaching new highs. Gold prices are expected to record gains for three consecutive quarters. Banks including Goldman Sachs and Deutsche Bank expect the upward trend to continue.