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Deutsche Bank on Monday raised its gold price forecast for next year, predicting an average price of $4,000 per ounce, up from a previous estimate of $3,700. The bank said a favorable foreign exchange and interest rate environment could drive further price increases. "While gold appears expensive relative to its fair value, we believe this is primarily due to strong official demand, which we expect to continue," the bank said in its report. Deutsche Bank also raised its silver price forecast for 2026 to $45 per ounce, up from its previous estimate of $40.On September 17th, Jefferies Research reported that Baidu (09988.HK)s recent AI developments have attracted market attention, including the signing of several major AI partners, its recognition as a key player in both AI cloud revenue market share and large customer penetration, and the development of its Kunlun chip. Its AI agent and digital human capabilities are experiencing rapid growth, and its autonomous driving platform, Apollo Go, is expanding overseas. The bank believes that Baidus stock price reflects its emphasis on user experience in its AI search transformation and maintains a "buy" rating. The target price for the US stock has been raised from US$108 to US$157, and from HK$104 to HK$152.UK AI infrastructure company Nscale: Announced a partnership with Microsoft, Nvidia and OpenAI, committing to investing in UK artificial intelligence infrastructure.New York gold futures fell below $3,700 an ounce, down 0.68% on the day.On September 17th, UK inflation remained at 3.8% in August, completely dashing hopes for an interest rate cut this week and further easing this year. Suren Thiru, an economist at the Institute of Chartered Accountants in England and Wales, stated in a research note that after Augusts high inflation, September could see an even more disturbing rebound—rising business costs and food prices could push inflation above 4% despite a weak economy. However, the slowdown in services and core inflation offers a glimmer of hope, suggesting that underlying price pressures are gradually easing. Thiru believes that a cooling job market should help push inflation back on its downward trajectory.

Forecast for Gold Price: XAU/USD bulls want 50% mean reversion

Alina Haynes

Feb 08, 2023 12:01

截屏2022-06-07 下午5.15.32.png 

 

The Gold price ended the day mostly stable against a mixed US Dollar, which was pushed and pulled by Jerome Powell's remarks at The Economic Club of Washington, D.C.'s Signature Evening.

 

While he repeated much of what he said in the press conference that followed last week's interest rate decision, the markets reacted quickly to his most dovish statements, which were largely surrounded by hawkish language, and the US Dollar plummeted.

 

As the markets processed the comments, gold gained only to fall back under pressure, fluctuating between $1,865 and $1,884 at its highest point. As of this moment, the Gold price in Asia has reached a session high of $1,878.46.


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