HSBC raised its 2025 average gold price forecast to $3,215 an ounce from $3,015 and its 2026 forecast to $3,125 from $2,915, citing elevated risks and government debt.
“We anticipate a wide and volatile trading range of $3,600-3,100/oz for the rest of the year and year-end prices of $3,175/oz for 2025 and $3,025/oz for 2026,” the bank said in a note on Tuesday.
Source – Reuters
HSBC – is a British universal bank and financial services group headquartered in London, England.
Spot gold was down 0.4% at $3,101.01 an ounce, as of 0710 GMT. Still, bullion was on track for a fifth consecutive weekly gain, buoyed by its safe-haven appeal that aided gold to reach three record highs this week.
“Gold tends to rally amid difficult-to-price uncertainty – like the start of a war – but tends to lose that support once markets learn how to price the risks involved,” said Ilya Spivak, head of global macro at Tastylive.
“The Trump administration seems to have picked a road, and while sentiment clearly doesn’t like it, at least the path of least resistance is more visible and easier to price. That is trimming some of gold’s “market confusion” premium.”
Spot silver declined 1.5% to $31.4 an ounce, platinum lost 0.8% to $944.80, and palladium was steady at $928.33.
Source – Reuters
The shares of Hindustan Zinc surged nearly 6 percent to trade at Rs 496 apiece on June 5 on the back of a notable surge in silver prices in India.
Hindustan Zinc is the largest producer of silver in India, and produces refined silver with a minimum 99.9 percent purity. The sharp rise in the bullion’s prices is expected to further boost the stock.
Hindustan Zinc shares have gained nearly 16 percent in the past one month, but dropped nearly 27 percent in the past one year.
Source – Money Control
The inflow into physically backed gold exchange-traded funds in April was the largest since March, 2022, with China-listed funds leading the move due to the country’s trade war with the U.S., data from the World Gold Council showed on Thursday.
Gold ETFs saw an inflow of 115.3 metric tons worth $11.2 billion last month, the largest amount since March 2022, when global markets were grappling with the immediate consequences of Russia’s invasion of Ukraine.
This move raised Gold ETFs’ total holdings by 3.3% to 3,560.8 tons by the end of April
Source – Reuters
Gold edged higher on Friday, after hitting a two-week low in the previous session, but easing trade tensions and a strong jobs report kept prices on track for a second consecutive weekly loss.
Spot gold was up 0.5% at $3,255.01 an ounce as of 9:41 a.m. ET (1341 GMT), after hitting its lowest since April 14 on Thursday. Prices were down 2.1% for the week, after hitting a record high of $3,500.05 on April 22.
“Gold looks like $3,500 may be a top for a little while, especially if some trade deals start to come through and some risk on appetite starts to break through the kind of negative euphoria that we’ve been seeing since the tariff talks,” said Daniel Pavilonis, senior market strategist at RJO Futures.
Spot silver edged 0.1% lower to $32.35 an ounce, platinum rose 1% to $967.70, and palladium gained 0.9% to $949.00.
Source – Reuters
Source – MSN
“The market is really trying to understand how aggressive these potential tariffs could be and I think the problem is no one really knows the answer,” said Nitesh Shah, commodity strategist at WisdomTree.
Alastair Munro, senior base metals analyst at Marex, said copper found some support from contrarian buying from some Commodity Trade Advisor (CTA) investment funds, which are largely driven by computer programs.
Source – Reuters / Live Mint
