|

Investment banks raise gold forecasts

ByVictoria

UBS and Commerzbank raised their gold price forecasts on Friday, joining other investment banks as investors drive the safe-haven metal to record highs amid the economic uncertainty sparked by U.S. President Donald Trump’s trade policies.

Trump’s tariffs have roiled financial markets, stoking fears of inflation and a global recession. While he has paused most duties, he has hiked those on China to 145%, prompting Beijing to lift its tariffs on U.S. goods to 125%.

“We expect gold’s rally to extend into next year and for prices to stabilise at higher levels further out,” UBS analysts said in a note

Source – Reuters

Similar Posts

  • /

    Platinum supply and demand forecast

    ByVictoria
    0 Comments

    Platinum demand outpaced supply by 995,000 ounces last year. That was 46 percent higher than forecast.

    Meanwhile, platinum jewelry sales grew by 8 percent in 2024, and investment demand took off, rising by 77 percent.

    The WPIC forecasts that jewelry demand will reach 2 million ounces this year, an increase of 2 percent year-on-year.

    Source – Money Metals

  • President Trump posting less on market

    ByVictoria
    0 Comments

    The bank’s analysts found that only 10% of the 126 posts Trump had published this time around on sensitive topics such as trade tariffs, foreign relations and economics had caused clear currency market moves.

    “Among the different topics, the posts on tariffs have been the biggest market movers,” JPMorgan’s note published on Monday said, adding that closer to a third of those ones had been market moving.

    Source – KITCO News / Reuters

  • /

    Switzerland gold imports at highest

    ByVictoria
    0 Comments

    Gold imports to Switzerland from the United States jumped to the highest monthly level since at least 2012 in April after the exclusion of precious metals from U.S. import tariffs, Swiss customs data showed on Tuesday.

    The Swiss data showed that gold imports from the U.S. rose to 63.0 metric tons in April from 25.5 tons in March. It was the highest in monthly data going back to early 2012.

    Switzerland’s total gold exports fell by 31% month on month in April with gold deliveries to the U.S. dropping to 12.7 tons from 103.3 tons in March.

    Source – Reuters