Investing.com – Due to the ongoing changes in the global financial markets, one of the leading financial institutions issued a new report examining its future expectations for the prices of oil and base metals. The report came to reveal market trends and economic transformations that contribute to shaping the prices of these vital commodities.
As for gold, Commerzbank raised its price forecast to $2,500 per ounce for 2024. The financial institution expects gold to continue rising, reaching $2,600 per ounce by mid-2025.
Regarding oil, the report showed relatively optimistic forecasts, indicating that the price would reach $85 per barrel by the end of 2024, while the price of West Texas Intermediate crude oil was expected to reach $80 per barrel in the same period. . The price of Brent crude oil is now at $79 per barrel, while West Texas Intermediate crude oil is at around $75.9 per barrel.
As for base metals, the report showed a kind of caution, as the company lowered its price expectations by the end of this year from $9,800 to $9,500 per ton.
2024-08-16 11:49:00
#Commerzbank #Gold #Price #Forecasts #Investing.com
