Copper Market Update : Epic Research Singapore

Meanwhile, in a note issued Wednesday, analysts at Goldman Sachs said they have cut their forecast for Fed-funds rate hikes over the next 12 months to 50 basis points from 100. “As a result, we reduce the downside to our gold price forecast,” raising the 12-month forecast profile to $1,150 from $1,000.

For now, ThinkForex’s Aslam said that a break above the $1,300 mark for gold “will open further [the] floor towards the upside.”

Rounding out metals trading, July high-grade copper HGN6, +1.09% settled at $2.104 a pound, up 1.1 cents, or 0.5%. July platinum PLN6, +0.22% gained $16.80, or 1.6%, to $1,066.10 an ounce, while June palladium PAM6, +0.49% rose $15.85, or 2.7%, to $608.05 an ounce.

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