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Gold Sets A New Record As Prices Rise Higher
"Buy more as it falls!" Traders take advantage of the price drop to stock up, and the nickel industry may enter a phase of bottoming out | New cycle of csi commodity equity index
1. Some traders have indicated that the nickel price has already dropped to the psychological bottom range, and they are beginning to stock up on low stock price; 2. Currently, high-cost nickel production capacity is gradually being cleared out globally; 3. The future nickel price has limited downside potential, and may experience a phase of bottoming out.
Australian ETF Movers for Friday | BetaShares Glb Gold Miners ETF-Ccy Hdg Was the Top Gainer
Jeff Currie, a veteran of the commodity for 30 years, believes that the current copper price has a range of 8500 at the bottom and 9500 at the top. Whether it can break through this range depends crucially on china.
Currie said in mid-May that copper was the most attractive trade he had seen in his 30-year career, but three and a half months later, the copper price on the London Metal Exchange fell below $9,000 per ton. Currie believes that the current decline in copper prices is mainly due to the simultaneous increase in copper inventories in Asia and copper exports from China.
Stock markets are falling, but will gold rise? International gold price at $2500, with the expectation of Fed rate cuts, the logic of digging "gold" in September may still continue.
Although the rumor that "the stock market is falling and gold is still rising" can be seen as a joke, there are still relatively certain investment opportunities in gold ETFs, but we still need to be cautious of short-term fluctuations, especially when the Federal Reserve cuts interest rates for the first time. In the long term, with global central banks expected to cut interest rates, the expansion of balance sheets is likely to strengthen the monetary attributes of precious metals.
Gold will continue to shine! Goldman Sachs predicts that it will touch $2700 in early next year, based on three major reasons.
Goldman Sachs predicts that by early 2025, the price of gold will reach $2,700 per ounce, an increase of about 8%; ② Since the beginning of this year, the price of gold has risen by 21%, outperforming the S&P 500 index.