The US -based Citi Research has announced that it has increased its gold price target for the next 3 months from $ 3200 to $ 3500 per ounce. On the other hand, Australia -based Anz revised its gold price forecast for the end of the year for 6 -month estimation for ounces per ounce for $ 3200
After the announcement that reciprocity -based tariffs will not be applied to semiconductor and some technology products, the increasing risk appetite at the beginning of the week decreased to a certain extent in the light of the following developments.
“The level of tariff increases described is much larger than expected”
“The level of tariff increases announced so far is much larger than expected. The same situation is likely to be valid for economic effects, which will include higher inflation and slow growth between these effects,” Jerome Powell, President of the US Federal Bank (FED), said in a statement. He said.
“If I want him to go, believe me it will go to me immediately”
US President Donald Trump for Powell’a, “it will go, if I want to leave (if I want to leave. I do not think he does his job. Always too late, a little slow and I’m not satisfied with him. If I want to go, believe me, believe me.” found. Trump claimed that Powell is doing politics and argued that interest rates should decrease.
Fed-Trump brought the concerns about the dispute again
In this period, when the possible effects of tariffs on the global economy were evaluated, Trump’s statements targeting Powell of the Fed President Powell brought up the concerns about the Fed-Trump disputes that have been behind for a while.
On the other hand, the International Monetary Fund (IMF) President Kristalina Georgieva said that there will be significant downward revisions in the new economic growth forecasts in the World Economic Appearance Report to be released next week, but no recession is foreseen.
Targets rose underneath
While the trading war between tariffs between the two largest economies in the world was influenced by prices, increasing tension and global growth concerns supported the demand for safe port.
US -based Citi Research, in a report, with new purchases and tariff risks from Chinese insurance companies due to the increasing demand for the market weakness in the environment of market weakness, the gold price target for the next three months from ounce of $ 3 thousand 200 dollars to $ 3 thousand 500 announced.
The Bank said that China’s permission to invest in 10 percent of its total assets up to 1 percent of its total assets may create a demand of approximately 255 tons of annual demand.
Australia -based multinational banks and financial services company Anz published in the report, the end of the year -end gold price to ounce of ounce of ounce of $ 3 thousand 600 dollars, the six -month estimate of the previous 3 thousand 200 dollars to 3 thousand 500 dollars announced.
“An increasing risk of recession, a new change in the geopolitical environment, disruptions in global supply chains, increasing inflation concerns and changing interest appearance show that gold will remain on a predictable future in the predictable future.” expressions were used.
According to a report published by Silver Institute, the Washington -based International Sector Association, the global silver supply deficit in 2025 decreased by 21 percent to 117.6 million ounces. In this decline, a decrease by 1 percent in demand and an increase of 2 percent in total supply will be effective.
Jewelry, electronic, electrical vehicles and solar panels, as well as as a tool of investment, silver will face a structural market deficit in the fifth year.
In the annual report prepared by the consulting firm Metals Focus on behalf of Silver Institute, the total silver demand of the industry is expected to remain fixed this year after 680.5 million ounces reached in 2024, while the demand for jewelry and silver goods was foreseen.
With the effect of these developments, ounce prices increased by 5 percent in palladium, 2.7 percent in platinum, 2.3 percent below and 0.4 percent in silver.
Copper price forecasts rose
While some metals followed a mixed course with the macroeconomic data described and Trump’s moderate tariff approaches, the aluminum and zinc used in the sector with the expectations of slowing down in the construction sector after the data announced in the USA.
Tariff uncertainties in copper, which is accepted as an indicator of economic health, maintain its impact on prices. Markets are trying to pricit both the general tariff threat to global manufacturing activities and the special tariffs implemented by the US to copper imports at the same time.
Citi, US President Donald Trump in recent weeks, citing a more moderate attitude towards tariffs, citing the three -month price target for copper to $ 8 thousand 800 dollars per ton of 8 thousand 800 dollars.
The Bank said that the risk of decrease in the next three months is decreasing, and the ongoing contraction in the scrap market is effective due to the increase in scrap copper stocks in the USA with unexpected strong purchases from China.
“All of these factors indicate a more gradual price drop in the second quarter of 2025. We foresee a softer course compared to the fast and deep investor sales we have expected in the second quarter of 2025. We are still in a clear rise position.” statements took place.
Prices in the market on the base metals this week on the basis of 3,5 percent in copper basis, 4.53 percent in nickel and 0.5 percent increased by 0.5 percent, 0.8 percent in aluminum and 2.4 percent in zinc decreased.
Oil prices are positive
In oil prices, the postponement of the US administration’s trade tariffs, the data of oil demand in China, the world’s most imported country of oil, and the developments in Iran were effective.
White House National Economy Council Director Kevin Hassett also mentioned that they received very good agreement offers in tariff negotiations and said that the US will not be recessed with 100 percent probability this year.
The relief of recession concerns in the United States increases prices by positively affecting the demand appearance of the world’s most oil -consuming country.
Data pointing to the recovery in China’s oil imports also support prices by strengthening the predictions that demand is increasing in the country.
According to the data released by the Chinese Customs General Administration, the country’s crude oil imports exceeded 12 million barrels per day in March, and recorded its highest level since August 2023. This increase was due to the recovery of Iran and Russian oil flows due to US sanctions at the beginning of the year.
In addition, the data flow of the country’s organization (OPEC) that the oil production of the country -exporting countries (OPEC) has decreased to the supply concerns of the market players and attracted prices up.
Analysts, prices, the US administration’s new sanctions against Iran will interrupt the global oil supply of concerns that concerns are effective, he said.
In natural gas prices, there was a decrease in the expectation that production in the US reached a record level and in addition to hot weather forecasts.
With this, analysts said that despite the high demand for liquefied natural gas (LNG) export demand, the global supply is sufficient due to the fact that Europe’s warehouses are full.
With these developments, the barrel price of Brent oil increased by 4.2 percent this week, while the price of natural gas traded on the New York Commodity Exchange in the British Thermal Unit (MMBTU) also depreciated by 8.7 percent.
Support from the White House to the farmer
While a mixed course was followed in agricultural commodity prices, tariff developments and settled in the focus of investors.
The Chinese state’s food group Cofco International, while building the world’s largest export port terminal in Brazil, announced that the company recruited in Brazil.
This development supports the tendency to increase the sale of agricultural products such as soybeans from Brazil to China.
On the other hand, Argentina’s Buenos Aires Grain Exchange, currently envisages a record wheat harvest, he said.
The White House said in a statement that support measures for farmers faced with low prices and high stocks while the trade war between China and the United States continues.
White House spokesman Karoline Leavitt, “Support measures are evaluated at the press conference. I know that the Minister of Agriculture met with the president and I repeat, the issue is on the agenda.” he said.
With these developments, this week, prices per clan in Chicago Commodity Exchange decreased by 0.6 percent in soybeans, 1.3 percent in corn, 0.3 percent in rice and 1.5 percent in wheat.
In addition, in the US commodity exchange Intercontinental Exchange, prices on libre, decreased by 0.3 percent in sugar, 5.7 percent in coffee, 0.2 percent in cotton rose. The price per ton of cocoa completed the week with a 2 percent decrease in supply concerns.
