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
