GCMAIN Gold Futures(AUG4)
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Gold Futures(AUG4) News
UBS Group: Gold is expected to reach $2,600 by the end of the year, and the target price for LME copper in the next 12 months is $0.012 million per ton.
UBS Group released a report on Wednesday, July 24, stating that the price of gold is expected to reach USD 2,600/ounce by the end of 2024 and USD 2,700/ounce by mid-2025, currently at USD 2,415/ounce. The target price for LME copper in the next 12 months is USD 0.012 million per ton.
Gold Market Analysis: Facing Important US Data Test, Gold Prices Remain Stable Near $2400.
Wang Gang, from Bank of China Guangdong Branch, said that this week, the market is awaiting the release of the second quarter GDP and June PCE data in the United States, but the performance of gold remains stable in the high range. This is mainly because the market is confident that the Fed will open the door to interest rate cuts in September, thus giving significant support to gold. Investors are looking forward to the data from Thursday and Friday to find clues for the Fed's interest rate cut path. If the data is not impressive, it will further solidify expectations of a Fed interest rate cut before September. This undoubtedly benefits the continued rise of gold.
Nvidia, Tesla, Alphabet Drag Stock Market Lower | Wall Street Today
S&P 500: Largest One-Day Pullback Since 2022
Tesla Pulls Back Hard as Market Falls | Herd on Wall St.
Earnings Weakness Not 'Panic Moment' for Investors, L&G Says
Dollar More Likely to React to Data That Cast Doubt on U.S. Rate Cut Bets
U.S. Stocks Dip Before Tesla, Alphabet Releases Earnings | Wall Street Today
Market Cautiously Advances Tuesday While Investors Sift Through Results
Tesla, Google Earnings are Here, Market Mixed Watching Q2 Results | Herd on Wall St
Gold: Easy Come, Easy Go – Commerzbank
Goldman Sachs: For every 10% drop in gold price, physical gold demand in China rises 16%, and gold prices are expected to remain at 2700 next year.
Goldman Sachs believes that physical gold demand still dominates the Chinese market, and Chinese consumers may play a key role in pushing up gold prices. There is still more than 12% room for gold prices to rise next year, and expectations of a Fed rate cut and demand from central banks around the world will also help boost gold prices.
Gold market analysis: waiting for the release of data from the USA, gold price fluctuations have momentarily remained calm.
Wang Gang of the Bank of China Guangdong Branch said that after a sharp fluctuation in the gold market in the past week, it has become somewhat calm. The market is waiting for a series of heavy economic data to be released this week, the most eye-catching of which is the US PCE data scheduled to be released on Friday. In the first quarter of this year, the core PCE price index rose by 3.7%, while the growth rate in the fourth quarter of last year was 2%. If this data declines significantly, combined with weak GDP data, it may open the door for gold prices to rise again.
Nvidia, Tesla, Rest of Mag 7 Lift Stock Market Higher | Wall Street Today
Market Advances Monday after Biden Steps Down From Reelection
S&P 500, Nasdaq Rebound, as Nvidia, Tesla and Rest of Magnificent Seven Rally
Gold: Positioning Risks Skewed to the Downside – TDS
Nvidia and Semis Follow Market Higher after Kamala Takes the Stage | Herd on Wall Street
A Stock Market Rotation of Historic Proportions Is Taking Shape
Gold market analysis: Profit-taking selling pressure led to a rapid 2% decline in gold prices from their highs.
Wang Gang, Bank of China's Guangdong Provincial Branch, said that after gold hit a historic high last week, it began to experience rapid decline from profit taking pressure, ahead of the weekend. Bart Melek, head of commodity strategy at TD Securities, said that the expectation that Trump may win the November presidential election and the almost complete digestion of the interest rate cut in September by the market will continue to support the long-term upward trend of gold. The slowdown in US economic activity will support expectations that the Federal Reserve will initiate a new round of easing after this summer, and the price of gold may rise. This week, pay attention to US PMI, GDP and PCE data.