Huaxi Securities: Gold is currently in a long upward cycle and if the price falls in the future, it is expected to drive central banks around the world to purchase gold again.
According to a strategy research report from Huaxi Securities, in the long term, gold is in a large upward cycle. Firstly, in recent years, the scale of US debt has been expanding at an accelerated pace, and the pressure of interest payment continues to rise. After the conflict between Russia and Ukraine, the United States imposed financial sanctions on Russia, which has impacted the credibility of the US dollar. Due to concerns about the risk of US dollar credit and US dollar assets, central banks worldwide continue to increase their gold reserves.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
Gold and silver hit new one-month highs! Behind it is not only the boost of non-agricultural employment, but also the "big purchases" of the Reserve Bank of India.
The Non-Farm Payroll report released a significant signal of cooling in the US labor market, with expectations of a Fed interest rate cut rising and the US dollar under pressure. India's central bank gold reserves increased by over 9 tons in June, the highest level since July 2022.
Amidst the low battery prices, hedge funds quietly bought physical cobalt.
This year, the sales of electric autos have been weaker than expected and the cobalt market has experienced a record oversupply, causing spot cobalt prices to drop to a seven-year low. The cobalt futures price, which will be delivered in one year, is already 20% higher than the spot price. A significant spot discount creates opportunities for arbitrage.
Express News | Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Following US Jobs Data
The Fed's Ambivalence: What Investors Can Expect from Its Dovish Shift
While the Federal Reserve has kept interest rates unchanged, recently released economic data such as PCE, CPI, and the unemployment rate suggest that inflation is trending in the right direction, leading the market to believe that a cycle of decreasing interest rates will begin soon. However, the debate continues; it's not about "whether or not," but rather "when and how" rate cuts will occur.
Gold Pushes Higher as Investors Expect Fed Will Start to Ease
Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.
Wheaton Precious Metals Q2 Results Imminent
Wheaton Precious Metals to Release 2024 Second Quarter Results on August 7, 2024
VANCOUVER, BC, July 3, 2024 /PRNewswire/ - Wheaton Precious Metals Corp. will release its 2024 second quarter results on August 7, 2024, after market close. A conference call will be held on Thursda
Here's How Much You Would Have Made Owning Wheaton Precious Metals Stock In The Last 5 Years
Wheaton Precious Metals (NYSE:WPM) has outperformed the market over the past 5 years by 4.91% on an annualized basis producing an average annual return of 18.07%. Currently, Wheaton Precious Metals ha
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.
Shares of Precious Metals Stocks Are Trading Higher as Gold and Silver Rise Amid a Drop in the Dollar Following Key US Economic Data.
From Bold to Boring
After a rollicking spring rally, gold has settled into a trading range that seems typical for a summertime slowdown. One indicator is now pointing toward a big surprise soon, however.
Expectations of interest rate cuts are putting pressure on gold and copper again, waiting for this week's PMI data to provide guidance.
Last week's released overseas macro data remained relatively weak, while Fed officials' statements were relatively hawkish, especially Federal Reserve official Bowman pointed out the possibility of interest rate hikes, which put pressure on the market, causing the US dollar to further strengthen against other currencies. This week, there will be intensive release of Euro-American PMI data, which will be a good guide for the market.
Wheaton Precious Metals Corp. Price Target Raised to $66.00/Share From $64.00 by Berenberg
Wheaton Precious Metals Corp. Price Target Raised to $66.00/Share From $64.00 by Berenberg
Express News | Wheaton Precious Metals Corp : Berenberg Raises Target Price to $66 From $64
Wheaton Precious Metals Is Maintained at Buy by B of A Securities
Wheaton Precious Metals Is Maintained at Buy by B of A Securities
Express News | B of A Securities Maintains Buy on Wheaton Precious Metals, Raises Price Target to $61
Wheaton Precious Metals Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 06/26/2024 14.83% B of A Securities $60 → $61 Maintains Buy 05/23/2024 25.19% Scotiabank $59 → $66.5 Maint
Investors in Wheaton Precious Metals (TSE:WPM) Have Seen Strong Returns of 148% Over the Past Five Years
Citi and Bank of America Merrill Lynch are both bullish: gold prices are expected to rise to $3000 in the next year.
Strong physical demand, central bank purchases, as well as macro factors such as concerns about US bonds and the Fed's interest rate cuts, will support the rise in gold prices.