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January 22, fixed income strategists at CIBC Capital Markets said they doubted whether Trump would impose a general 25% tariff on Canadian goods. This move threatens Trumps promise of cheaper energy and could cause damage to the two countries closely integrated auto industry. Instead, the United States is more likely to impose tariffs of 10% to 20% on Canadian imports, excluding commodities and automobiles. According to the agencys data, in this case, the impact on Canadas GDP will be between 1.35% and 3.25%. The Bank of Canadas policy rate may fall further than current market expectations, between 1.65% and 2.2%. The Bank of Canadas current policy rate is 3.25%, and it will make an interest rate decision next week.Hang Seng Index futures closed down 0.65% at 20,028 points in the night session, 79 points below the spot price.On January 22, Wopke Hoekstra, the European Commissions Commissioner for Climate Action, said on January 21 local time that the EU regrets the US withdrawal from the Paris Agreement. He said that despite the setbacks, the EU is committed to working with the United States and other international partners to address the urgent issue of climate change. Wopke Hoekstra stressed that the Paris Agreement has a solid foundation and will continue to be effective.The Federal Reserve accepted a total of $96.015 billion in fixed-rate reverse repurchase operations.The winning rate for the U.S. 1-year Treasury bond auction on January 21 was 4.025%, compared with the previous value of 4.07%.

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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