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 2024then to fall by 4% in 2025 project Brent crude oil to average $82.5 per barrelproject gold to average $1,825 an ounce in 2024HSCB citing:tightened supplybetter demand from Chinaglobal energy transitiongeopolitical risks and expectations of looser monetary policy in H2 of 2024 will add to the upsideAnd note downside risks include:ongoing slowdown in global growthInfo via Reuters This article was written by Eamonn Sheridan at www.forexlive.com.

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.