CommodityPremium

GOLD: Intraday Analysis & Forecast

Metal prices rise, with gold futures gaining 0.45% to $2,321.4 a troy ounce after the U.S. Federal Reserve’s comments came in softer than expected. Gold is MUFG’s most bullish call this year for commodities, and the year-end estimate of $2,350 an ounce now looks modest, analysts say in a note. The precious metal stands to gain on a trifecta of eventual Federal Reserve interest rate cuts, supportive central-bank demand and bullion’s role as hedge of last resort in times of geopolitical tension, MUFG says. Elsewhere, copper rises 0.7% to $9,966 a ton, while aluminum is broadly flat at $2,586.5 a ton. Copper is central to decarbonization–and its time is now–given acute fundamental shortfalls reflecting a persistent green-transition demand strength and a cyclical recovery in manufacturing, the financial group says.

 

✅  Register or Login.

Related posts

GOLD: Short Term Updates Analysis

A.B.

EURUSD: Intraday Analysis & Short Term Pattern

A.B.

Dollar Index: Daily analysis awaiting the Fed’s decision

A.B.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More