Precious Analyst_ Nowcasting 'Secret' Gold Buyers; Raising our Gold Price Forecast
standard chartered·2024-10-07 16:08
_ 30 September 2024 | 4:09PM BST Precious Analyst Nowcasting 'Secret' Gold Buyers; Raising our Gold Price Forecast n We raise our gold price forecast from $2,700/toz to $2,900/toz for early 2025 for two reasons. First, our economists now look for faster declines in short-term interest rates in the West and China, and we recently showed that the gold market doesn't fully price in the rates boost to Western ETF holdings backed by physical gold yet, which tends to be gradual. Second, our new nowcast shows that ...