Analysts at Mitsubishi UFJ said that despite gold's impressive gains over the past few days, there are still good reasons for further slow gains, according to Gold Ten. The bank is most optimistic about gold this year, predicting that the price of gold will reach $2,350 per ounce by the end of the year, due to the continuous interest rate cuts by the Federal Reserve, demand support from the central bank, and gold as a last resort for geopolitical issues. Base metals markets are focused on whether further stimulus measures will be introduced in parts of Asia.