Gold Climbs To US$2,690, Analysts Maintain Bearish Trading Bias
Why investors are still buying gold despite a strong dollar and rising Treasury yields
Gold: Rebound Towards Last Month High at $2725 Is Possible – Société Générale
Gold: China's Central Bank Buys More Gold – ING
Europe Natural Resources Fund: The performance of Gold will surpass that of the US stock market in 2024. Next year's trend will depend on whether Emerging Markets demand can be sustained.
Li Gangfeng stated that the price of gold in US dollars rose by 25.5% in 2024, setting a new historical high 40 times (with the highest seen at 2,790 dollars), achieving the best annual performance in the past 14 years, while last year's returns also outperformed the US stock market.
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Gold Futures End Lower
Goldman Sachs Delays $3,000 Gold Forecast, Sees Fewer Rate Cuts In 2025
"Is the 'Trump Shock' putting an end to the Gold feast? Goldman Sachs changes its stance: Gold prices may struggle to rise to 3,000 dollars by the end of the year."
①Goldman Sachs predicts that gold prices may not rise to $3,000 by the end of the year, as Trump's policies may lead the Federal Reserve to reduce the scale of interest rate cuts in 2025; ③Goldman Sachs pointed out that central banks' continued buying of gold is a key driving factor for long-term gold prices, and it is expected that by mid-2026, the average monthly purchase volume by central banks will reach 38 tons.
Wall Street continues to look forward to the Gold bull market: aiming for 3,000 dollars.
After experiencing a glorious year in 2024, Fund managers still see reasons to remain Call.
[Brokerage Focus] Northeast Securities initially rated CHINAGOLDINTL (02099) as a "Shareholding" with the resumption of operations at the Jiamaka Copper Mine driving a turnaround in performance.
Jinwu Finance | Northeast Securities released a Research Report indicating that CHINAGOLDINTL (02099) Jia Ma Copper Mine's output for 2024 will exceed the initial guidance, and Changshan Hao Mine is in line with the guidance. The company proposed a long-term development plan in three phases for Jia Ma Mine, with a prospect for further increase in production capacity. The institution believes that the current resource reserves of Jia Ma Copper Mine are abundant (Copper resource amount of 6.79 million Metal tons and Copper reserves of 2.12 million Metal tons), with a long exploitable lifespan (calculated at an output of 0.085 million tons/year, resource amount/reserves can be exploited for 80/25 years), coupled with the exploration in Bayi Pasture and Zegu Langbei has shown great potential, suggesting that Jia Ma Copper Mine may have significant expansion capacity in the long term.
Goldman Sachs has changed its mind! It has lowered the Target Price for Gold and no longer expects it to reach 3000 USD by the end of the year.
Goldman Sachs pointed out that the slowdown in the USA's monetary policy easing in 2025 will suppress the demand for Gold ETFs. Therefore, it is expected that the gold price will reach $2910 per ounce by the end of this year, rather than the previously anticipated $3000 per ounce. Goldman Sachs also expects the gold price to reach $3000 per ounce by mid-2026 as the Federal Reserve continues to cut interest rates.
Federal Reserve officials express concerns about inflation, and gold prices hover around $2,640.
Statements made by Federal Reserve officials over the weekend have reinforced the view that the Fed will adopt a more cautious approach to interest rate cuts this year.
Gold Futures Likely To Be Volatile Next Week
Gold Futures End Higher Amidst Ongoing Geopolitical Tensions
As fears around Trump rise, the trends in Emerging Markets MMF and Gold diverge.
Amid expectations of Trump possibly returning to the White House, the 30-day correlation between Gold and the MSCI Emerging Markets MMF Index has dropped to its lowest point in nearly three years. Over the past three years, these two Assets have been positively correlated 86% of the time, but now they are experiencing a 30-day negative correlation, which has occurred for only the fifth time in three years.
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