Gold prices retreated from recent highs as trade risks thawed but remained elevated as macroeconomic and geopolitical uncertainties continued to drive investors' flight to safety. Appetite for safe-haven assets continued to bolster the consensus price outlook for gold during 2025–26.
Consensus target prices for gold have been upgraded 1.5% on average for the 2025–28 period and downgraded 0.1% for 2029.
The London Metal Exchange three-month (LME 3M) copper price recovered to reach a monthly peak of US$9,610.00 per metric ton on May 23 as relaxed US-China trade barriers signaled renewed opportunities for copper trade. However, slowing manufacturing activity in the US and China amid lingering concerns over potential tariff impacts, a sluggish China property market and elevated refined supply, particularly in the US, limited price support.
Consensus price forecasts for copper have been downgraded 0.3% on average for 2025–28 and adjusted 3.0% higher for 2029.
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
EVN Price at posting:
$8.47 Sentiment: Hold Disclosure: Held
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