New Delhi, May 5 -- Gold may be on the verge of a structural breakout, not just a cyclical rally. According to a recent Deutsche Bank report, changing global power dynamics, shifting reserve strategies, and aggressive central bank buying could push prices to unprecedented levels-potentially as high as $8000 over the next five years.

At the heart of the argument lies a major change in how countries manage their foreign exchange reserves-especially in emerging markets. The report suggested that gold is increasingly being preferred over the US dollar as a store of value in an uncertain world.

"Even in an environment where EM FX reserves decline to $5 trillion, gold prices could still rise to $8000 over the next five years, if EM countries ...