HSBC projects Brent crude oil to average $82.5 /barrel and gold to average $1,825 in 2024

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HSBC projects Brent crude oil to average $82.5 /barrel and gold to average $1,825 in 2024

HSBC is forecasting high commodity prices this year before falling in 2025:

• projecting commodity prices to rise by an average of 2% in 2024
• then to fall by 4% in 2025
• project Brent crude oil to average $82.5 per barrel
• project gold to average $1,825 an ounce in 2024

HSCB citing:

• tightened supply
• better demand from China
• global energy transition
• geopolitical risks and expectations of looser monetary policy in H2 of 2024 will add to the upside

And note downside risks include:

• ongoing slowdown in global growth

Info via Reuters

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: HSBC projects Brent crude oil to average $82.5 /barrel and gold to average $1,825 in 2024

forexlive.com