HSBC projects Brent crude oil to average $82.5 /barrel and gold to average $1,825 in 2024HSBC 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 (https://www.forexlive.com/news/hsbc-projects-brent-crude-oil-to-average-825-barrel-and-gold-to-average-1825-in-2024-20240102/)
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