Gold Climbs To US$2,690, Analysts Maintain Bearish Trading Bias
NYSE Copper and Silver surged significantly, with "tariff fears" bringing about the "USA Metal premium".
Market worries about the uncertainty of Trump's trade policy have led to a premium of over $0.9 per ounce for Silver Futures on the NYSE compared to London spot silver, nearing the peak from December last year, while the premium for Copper Futures also reached $623 per ton.
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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.
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.