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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOutlook for gold will be 'choppy' over the next 6 months, Standard Chartered saysSuki Cooper of the bank discusses factors such as interest rates, geopolitical risks and concerns about a recession.
Persons: Suki Cooper
Three months ago, a Reuters poll predicted prices would average $1,950 in 2023. Standard Chartered analyst Suki Cooper said gold is "more likely to test the downside until rate cuts materialise unless a new catalyst emerges". For silver , the poll forecast average prices of $23.52 an ounce in 2023 and $25.00 in 2024. "Anaemic performance from gold and concerns over economic outlook especially in China" have weighed on silver, O'Connell added. But silver could still find support from solar panels demand, analysts said.
Persons: Ross Norman, Carsten Menke, Julius Baer, Suki Cooper, Rhona O'Connell, Silver, O'Connell, Ashitha Shivaprasad, Harshit Verma, Arpan Varghese, Barbara Lewis Organizations: Federal Reserve, U.S, Thomson Locations: China, Bengaluru
Gold slips to three-month low as Fed rate cues lift dollar
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: +1 min
Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Gold slipped to a near three-month low on Thursday as the dollar and Treasury yields advanced after the U.S. Federal Reserve signaled more interest rate hikes this year. Spot gold fell 0.4% to $1,935.99 per ounce, hitting its lowest since March 17. Traders are now pricing in a roughly 72% chance of a Fed rate hike in July, according to the CME Fedwatch tool. "(The) Fed has more or less given the market a direction," said Brian Lan, of Singapore dealer GoldSilver Central.
Persons: Gold, Tim Waterer, Brian Lan, Suki Cooper Organizations: Treasury, U.S . Federal Reserve, Fed, KCM Trade, Traders, GoldSilver Central, The U.S, European Central Bank Locations: Moscow, Singapore, The, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold prices could still test all-time highs in coming weeks, says Standard CharteredSuki Cooper of the bank says, however, that "thereafter we think prices are more likely to trend lower."
Persons: Suki Cooper
SummarySummary Companies Gold prices biased for a grind higher - analystsMarkets pricing in Fed 25-bps rate hike in MayU.S. dollar up 0.1%April 17 (Reuters) - Gold prices inched higher on Monday but were off one-year highs reached late last week as mixed economic data prompted investors to reassess the U.S. Federal Reserve's rate hike trajectory and boosted the dollar. Spot gold was up 0.1% at $2,004.74 per ounce, as of 0353 GMT. The dollar index was 0.1% higher, making bullion expensive for overseas buyers. Other data showed households expected inflation to rise over the next 12 months. The CME FedWatch tool shows markets are pricing in a 80.9% chance of a 25 basis point hike in May.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's been a rebound in demand for gold from India and China, says Standard CharteredSuki Cooper of the bank says gold has held up "remarkably well, given what the macro headwinds were."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilver market hasn't been following in the footsteps of gold, says Standard CharteredSuki Cooper of the bank says it has been "behaving more like the base metals like copper."
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