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Goldman Sachs predicts gold prices could reach $3,700 by year-end, supported by rising demand and a shift towards safe-haven assets amid economic uncertainty. Spot prices recently hit a record $3,385.36, driven by increased buying from Chinese investors and central banks diversifying away from the US dollar. Analysts expect significant contributions to gold demand from Chinese insurance firms and banks, further bolstering the market.
Wells Fargo has raised its price target for Coterra Energy (CTRA) from $35 to $36, maintaining an Overweight rating as it aligns estimates with recent commodity prices. Analysts project an average target price of $33.79, indicating a potential upside of 30.71% from the current price of $25.85. The consensus recommendation from 26 brokerage firms suggests an "Outperform" status with an average rating of 1.9.
Archer-Daniels-Midland Company reported a quarterly EPS of $1.14, surpassing estimates, despite a 6.4% revenue decline year-over-year to $21.50 billion. The company announced a dividend increase to $0.51, yielding 4.26%, while analysts maintain a "Hold" rating with a consensus price target of $52.75.
Goldman Sachs and UBS forecast a continued rise in gold prices, driven by market turbulence from the US-China trade war and increased central bank purchases. Gold reached a record high of $3,245 an ounce, with Goldman predicting it could hit $3,700 by year-end, while UBS estimates a peak of $3,500. The dollar's depreciation is further fueling demand for gold as a safe investment.
Oil prices fell about 1% as traders assessed the impact of the US-China trade war, with Brent crude at $64.01 and US West Texas Intermediate at $60.64. The International Energy Agency forecasts the slowest growth in global oil demand in five years, exacerbated by US tariffs and rising OPEC+ output. Concerns over escalating tariffs and their potential to trigger a global recession have led banks to lower crude price forecasts.
Dubai's gold price has surged to a new record, increasing nearly Dh7 per gram. This rise reflects ongoing trends in the gold market, impacting both local and international buyers. The fluctuation in prices continues to attract attention from investors and consumers alike.
Dubai's gold price remains steady at Dh358.25. User activity on the service can be tracked and combined with other data to create personalized profiles. These profiles help tailor content to individual interests, enhancing the relevance and accessibility of information presented.
Oil prices rose slightly, buoyed by potential US tariff exemptions on cars and a rebound in Chinese crude imports amid expectations of tighter Iranian supply. Brent crude increased to $65.13 per barrel, while West Texas Intermediate reached $61.81, as market analysts noted the unpredictable nature of US trade policies impacting global oil demand. Additionally, data showed a nearly 5% rise in China's crude oil imports in March, driven by increased arrivals of Iranian oil.
OPEC has revised its 2025 global oil demand growth forecast down by 150,000 barrels per day to 1.3 million bpd, citing US tariffs and trade uncertainties. The group also lowered its projections for non-OPEC+ liquids production and global economic growth for 2025 and 2026. Despite these adjustments, OPEC maintains a long-term optimistic outlook for oil demand, expecting total demand of 105.05 million bpd in 2025 and 106.33 million bpd in 2026.
Oil prices declined as concerns over the escalating US-China trade war threaten global economic growth and fuel demand. Brent crude fell to $64.54 a barrel, while US West Texas Intermediate dropped to $61.28, both losing about $10 since the start of the month. Analysts predict a modest rise in global oil demand in late 2025, with significant cuts in US oil rigs reflecting a cautious outlook amid the trade tensions.
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gold prices surge as major banks raise forecasts and demand increases
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