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.
Major stock indexes rallied, the dollar gained against the euro and other currencies while safe-haven gold dropped on Wednesday as investors grew optimistic about a possible de-escalation in the trade war between the U.S. and China.
“There seems to be some light at the end of the tunnel here in terms of the trade war,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The euro was last down 0.36% against the dollar at $1.1379. Against the Japanese yen, the dollar strengthened 0.49% to 142.28.
U.S. Treasury yields declined after the U.S. administration’s signal of a potential respite in the U.S.-China trade war and Trump’s softening stance on Powell.
Source – Reuters
The yellow metal could zoom all the way to $4,000 if investors continue to lose their appetite for risk, which would mean ditching assets like stocks and cryptocurrencies, and redirecting that money into gold and Treasury bonds, according to a note Friday from Bloomberg Intelligence Strategist Mick McGlone.
“The key competitors for gold, at least for the past few years, have been the strong rise in U.S. stocks, the rise in U.S. bond yields, and the rise in digital gold—that is Bitcoin,”
Source – Barron’s
Gold prices dipped on Wednesday after U.S. President Donald Trump hinted at lower tariffs for China and said he has no plans to fire Federal Reserve Chair Jerome Powell.
Spot gold fell 2.1% to $3,310.29 an ounce, as of 0811 GMT, after hitting a record high of $3,500.05 in the previous session.
Spot silver rose 1% to $32.85 an ounce.
Platinum was up 0.6% at $964.35 and palladium was steady at $935.48.
Source – Reuters
The company recorded its highest-ever nine months mined and refined metal production at 784 kt and 783 kt respectively. The company clocked best-ever third quarter revenue of US$ 1,020 million, up 18% year-on-year.
Hindustan Zinc also registered historic best third quarter EBITDA of US$ 537 million, up 28% with an industry leading EBITDA margin of c. 53%, up c. 400 bps year-on-year. The company also recorded its highest profit after tax (PAT) in the past nine quarters* of USD 317 million, up 32% year on year.
Source – ANTARA News
The Ministry of Commerce and Industry said in a statement Thursday it revised import figures from April to November after discovering the discrepancy, which had resulted from migrating to a new data transmission system.
The miscalculation led to a four-fold increase in gold imports to a record $14.8 billion in November, causing the trade deficit to widen to $37.8 billion.
Preliminary revisions show gold imports were $37.39 billion in the April-November period, down $11.7 billion from previously reported.
Source – Bloomberg / Live Mint
The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.
Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.
Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.
The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.
Source – Reuters
