Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Macquarie Expects Gold Price to Rise Further, Initiates 3 Related Stocks w/ Rating Outperform
Recommend 22 Positive 43 Negative 19 |
||||
|
||||
|
Macquarie issued a research report expecting the US Fed to enter the interest rate cut cycle. The recent weak economic data will trigger faster-than-expected or larger policy easing, and will continue the strength of gold price. Macquarie's commodities team currently forecasted gold prices to rise further, reaching US$2,277/ US$2,425 per ounce in 2024/ 2025, emphasizing that gold is a short-term winner, while the outlook for copper price this year was relatively cautious. Macquarie initiated ZHAOJIN MINING (01818.HK), SD GOLD (01787.HK) and ZIJIN MINING (02899.HK) with rating at Outperform, and target prices of $18/ $19/ $21 for their H-shares, respectively. Of which, Macquarie listed ZHAOJIN MINING as its top pick, and maintained a cautious view on CMOC (03993.HK). The broker initiated rating at Neutral on CMOC, with a target price of $6.9 for its H-shares. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
