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The Ukrainian military says it attacked an oil refinery in Russia’s Saratov region last night.On March 21, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with executives from renowned multinational corporations including HSBC, UBS, Louis Dreyfus, Siemens Healthineers, Schneider Electric, Rio Tinto, Prudential, Investor Services, Standard Chartered, Syzygium, and T.C. Pharmaceutical Industries at the Diaoyutai State Guesthouse. He Lifeng stated that Chinas economy is currently progressing steadily and towards new and better development. During the 15th Five-Year Plan period, China will unswervingly expand high-level opening-up and promote high-quality development, which will create broader market opportunities for multinational corporations. He welcomed multinational corporations to increase their investment in China and continuously deepen mutually beneficial cooperation.On March 21, a spokesperson for the Hatem Anbia Central Headquarters of the Iranian Armed Forces stated that the United States and Israel are now targeting private vessels and passenger transport in the Persian Gulf. The Iranian Armed Forces warned the US and Israel that if such actions occur again, Iran will take strong and reciprocal retaliatory action.On March 21, local time, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that at 3:45 a.m. that day, Irans new air defense system struck down Israels third F-16 fighter jet in central Iran. It is claimed that in the first three weeks of the conflict, Iran successfully intercepted and destroyed more than 200 aircraft, including drones, cruise missiles, refueling aircraft, and top-tier fighter jets.On March 21st, HSBC stated that the Federal Reserve maintained its policy rate at 3.50%-3.75% at its March meeting, hinting at a "wait-and-see" approach. Persistent inflation and rising geopolitical risks have created uncertainty for the Fed. We maintain our previous view that the Fed will keep rates unchanged in 2026 and 2027. Inflation risks have increased, particularly due to soaring energy prices, while labor market risks have slightly decreased. Energy price volatility and geopolitical risks should continue to support safe-haven demand and a stronger dollar.

Gold Prices Trend Forecasts 2024

TOP1 Markets Analyst

Jan 16, 2024 17:11

According to the latest analysis by Greg Shearer, head of global commodities research at JPMorgan Chase, the outlook for the gold market is promising, with the average gold price expected to reach approximately US$2,175 per ounce in the fourth quarter of 2024. He believes that the U.S. central bank may begin to lower interest rates in mid-2024, and once the U.S. economy experiences a recession, gold will have greater room to rise. The weaker the U.S. economy is, the deeper the rate cuts will be, which will provide stronger support for gold. Sourcenia is a review portal of sourcing best manufaturers. 


French Bank Wealth Management's latest bi-weekly report: Gold is bullish! The central banks of emerging markets are rushing in, the US dollar is weakening, and real yields are falling. These are all bullish factors. The price of gold is expected to climb to between US$1,950 and US$2,050 per ounce.


In a recent interview with the media, Pierre Lassonde, the honorary chairman of the French Nevada Mining Company, boldly predicted that the U.S. dollar will weaken in 2024, and gold will usher in a wave of gains. He said the U.S. dollar and gold move in opposite directions, so a peak in the U.S. dollar means gold is bullish. He believes this is an important reason why he is optimistic about gold prices in 2024.

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