Gold price forecasts.

 

Yardeni increases outlook on S&P500

New:

Old:

China sells U.S. bonds

China keeps selling U.S. trashuries. 

CAPEX Copper

Capex for copper is declining, which means price should go up.

Goldman Sachs (NYSE:GS) foresees a supply shortfall that will drive the price of copper to $4.50 per pound by late 2024, and to more than $6.80 per pound in 2025.

FOMC Meeting: more rate cuts

FOMC says more rate cuts:

Dec-2023:

Sep-2023:

 

Argentina gold price doubles

The gold price in Argentina just doubled. 

China natural gas demand

China natural gas demand will continue to rise. 

Oil going into surplus in 2024

Oil is going into surplus. 

Update 16-feb-2024

Some forecasts are even worse.

Copper Treatment charges Vs Surplus/Deficit Market Balance

As copper concentrate deficits widen, treatment charges go down in order to incentivize more supply of copper concentrate to smelters. 

Oil forward curve going lower

Oil is going lower.