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CNCBI Foresees 2 US Rate Cuts This Yr, Gold Prices at USD4,000-5,200 in 1Q
Recommend 23 Positive 44 Negative 18 |
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The Federal Reserve will continue to lower interest rates to a neutral level, China CITIC Bank International (CNCBI)'s Chief Economist Ding Meng believed. He noted that the current interest rate of 3.5-3.75% still has room for cuts to reach the neutral rate, predicting two more rate cuts this year. The dot plot indicated that Fed officials are more cautious about the rate cut magnitude next year compared to this year. Additionally, Zhang Hao'en, Head of Personal and Business Banking Investments at CNCBI, opined that recent gold price volatility might prompt investors to reassess the value of gold as a hedging tool. Short-term gold prices need consolidation, expected to jolt between USD4,000 and USD5,200 per ounce in 1Q26. However, he pointed out that the long-term outlook for gold remains upbeat, due to strong demand for gold assets in Asian markets, along with institutional investors and central banks increasing their gold holdings. As for the Hong Kong stock market, he forecast that the short-term support level for the HSI will be 25,500, with the annual fluctuation expected to range between 21,000 and 29,800. Investors should pay heed to value sectors such as financials, real estate, and local banks. AASTOCKS Financial News Website: www.aastocks.com |
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