Alex Ebkarian: Gold, Silver — My End-of-Year Price Targets and Forecast

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Allegiance Gold’s Alex Ebkarian expects gold to remain volatile near term but sees the consolidation phase as largely complete. He flagged a possible pullback of around US$200 from current levels, but said gold should then recover over the next six months toward US$4,500-4,600/oz. The interview teaser points to the Fed, inflation and geopolitical risk — including the Iran war — as the key backdrop for the next leg in metals. The discussion also includes a silver outlook, a 2026 gold price call, and a section on who is buying now, with a distinction between physical demand and stock-market exposure. Near term, the message is bullish for precious metals despite expected chop: the setup is for corrective dips to be bought if real-rate and risk headlines stay supportive. The main catalyst set remains Fed guidance, inflation prints and any escalation in geopolitical तनाव, while silver could remain leveraged to the same macro bid if gold extends higher.