ING Group analysts project that gold prices could reach $5,000 this year, driven by geopolitical tensions involving Iran and inflation concerns. While short-term volatility is influenced by U.S.-Iran developments, real interest rates, and the dollar's trend, medium- to long-term support for gold is expected to strengthen as these pressures ease. A de-escalation in the Iran conflict could significantly boost gold prices. The market is closely watching the upcoming U.S. CPI inflation data for insights into future interest rate movements. Ahead of the data release, gold futures saw a slight increase of 0.1%, reaching $4,736 per ounce.