HSBC Raises 2024 Gold Price Forecast, 2023 Outlook Unchanged
HSBC GLOBAL RESEARCH:
LEAVES ITS 2023 AVERAGE GOLD PRICE FORECAST UNCHANGED AT $1,905/OZ BUT RAISES 2024F SLIGHTLY TO $1,850/OZ (FROM $1,820/OZ)
HSBC SAYS "WE LOOK FOR A TRADING RANGE OF USD1,850/OZ-USD1,970/OZ FOR THE REST OF 2023," FOR GOLD
HSBC: "WE EXPECT REAL RATES TO WEIGH ON GOLD THIS YEAR AND INTO 2024"
HSBC SAYS FED’S PROLONGING OF TIGHTENING CYCLE LIKELY TO CONTINUE TO WEIGH ON GOLD, ALTHOUGH EVENTUAL END TO CYCLE MAY ALLOW GOLD TO STABILIZE