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Gold: Critical Support and Resistance Levels to Watch Ahead of Fed Next Week
Hong Kong stocks' movements | Copper companies saw a widespread decline in early trading as copper concentrate long-term processing fees hit a historical low, Institutions indicate that the driving effect of policy expectations is fading.
Copper stocks all fell in the early session. As of the time of writing, MMG (01208) fell by 4.21%, trading at 2.73 HKD; CMOC Group Limited (03993) fell by 4.09%, trading at 5.63 HKD; Zijin Mining Group (02899) fell by 3.46%, trading at 15.06 HKD; JIANGXI COPPER (00358) fell by 1.98%, trading at 12.88 HKD.
Gold prices have plummeted! The World Gold Council: Market growth may slow down in 2025.
What will the future trend be.
Hong Kong stocks are experiencing fluctuations | Golden Industrial Concept stocks are collectively declining, Precious Metals have sharply plummeted during the trading session, and the World Gold Council expects the gold price increase to slow down next y
The Golden Industrial Concept stocks all fell, as of the time of writing, Zijin Mining Group (02899) dropped 2.69%, trading at 15.2 Hong Kong dollars; LINGBAO GOLD (03330) fell 2.37%, trading at 2.88 Hong Kong dollars; CHINAGOLDINTL (02099) decreased by 1.97%, trading at 39.75 Hong Kong dollars.
ING: Next year, the CSI Commodity Equity Index will experience a "Put year," while Gold will still shine!
① ING expects that the Global situation will put pressure on the Energy and CSI Commodity Equity Index markets, but the outlook for Gold remains bright. ② The report points out that Trump's tariff plans may disrupt the oil, Metal, and Agriculture markets; ③ However, ING predicts that the average Gold price will rise to $2,760 per ounce by 2025, primarily influenced by central bank purchases of Gold and the appeal of Gold as a safe-haven asset.
MetalsFocus: It is expected that gold demand in the Middle East will slow down in 2024, and risks will still exist next year.
Recently, MetalsFocus indicated that the average gold price is expected to increase by 23% year-on-year this year, while the gold jewelry Consumer in the region is expected to decrease by 8% year-on-year.
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