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Indian government: Diesel sales in India rose 4.7% year-on-year in November, while gasoline sales rose 2.6% year-on-year.On December 6th, European Central Bank (ECB) Governing Council member Rehn stated that the medium-term inflation risks in the Eurozone are slightly tilted to the downside. He cited "relatively low energy prices, the appreciation of the euro, and expectations of slower inflation in the services and wage sectors" as downside factors. Factors pushing up inflation include "potential impacts on supply chains from geoeconomic fragmentation" and a stronger-than-expected economic rebound that could lower the savings rate. Rehn said, "We need to pay attention to both upside and downside risks." He refuted suggestions from some colleagues that another rate cut should be subject to high thresholds. Rehn stated, "We shouldnt impose any unnecessary constraints on our monetary policy, whether high or low thresholds. Its best to follow our strategy and be consistent in word and deed. I believe we will." When asked about ECB President Lagardes recent comments that the central bank is in a "good but not fixed" position regarding interest rates, Rehn agreed.December 6th - According to the Gaza Strip Media Office, since the ceasefire agreement took effect this year, Gaza has experienced a severe gas shortage. Originally, 660 gas delivery trucks were scheduled to enter Gaza, but only 104 have been approved so far, representing only about 16% of the agreed demand. This shortfall directly affects 2.4 million residents of Gaza, impacting essential sectors such as homes, hospitals, bakeries, and public kitchens. Currently, gas in Gaza is allocated based on the actual number of registered households to ensure fairness. Each household is allocated an 8kg gas cylinder per cycle, and can only collect it once per cycle. 252,000 households have already received their quotas, but the system targets approximately 470,000 households. Due to the continued shortage, each allocation cycle takes at least three months to complete the distribution to all registered households.Ukrainian President Zelensky: He spoke by phone with NATO Secretary General Rutte.Market news: The Indian government is preparing to take action against IndiGo, or may seek to remove IndiGos CEO.

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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