New Delhi, Sept. 14 -- Gold prices could be at the start of yet another rally, a top Standard Chartered investment official said, as central banks stock up, dollar weakens and the US dollar yield curve steepens.

"We believe this is the start of another rally in gold prices," said Manpreet Gill, chief investment officer, Africa, Middle East & Europe at Standard Chartered, pointing to gold recently breaking out of the $4,000-level. Gill remains overweight and bullish on gold, expecting it to approach $5,000 over six to 12 months.

Gold prices have surged around 70% from Rs.76,308 per 10 grams on 1 January 2025 to Rs.1,53,045 now.

Gill sees central-bank demand as the bigger story. While buying can ebb and flow, central banks tend to be mor...