Global investment banks expect gold to extend its record-breaking price rally into 2025 and China's stock market to edge up the next year, according to their latest forecasts on major asset classes including stocks, bonds, commodities.
Goldman Sachs expects the central banks of emerging and developed economies to continue their accommodative monetary policies into 2025.
The investment bank anticipates an average interest rate reduction of 116 basis points in developed economies and 114 basis points in emerging markets over the next year.
In terms of commodities, Goldman Sachs is optimistic about gold prices, forecasting that they could reach 3,000 U.S. dollars per ounce by 2025 mainly due to increased central bank purchases and anticipated rate cuts by the U.S. Federal Reserve.
J.P. Morgan Chase shares a positive outlook on gold prices, but sets a lower target of 2,850 U.S. dollars per ounce.
Goldman Sachs is also bullish on Chinese equities, maintaining an "overweight" position on stocks listed in the Chinese mainland and the Hong Kong Special Administrative Region.
It expects the MSCI China Index to rise by 15 percent and the China Securities Index 300 by 13 percent in 2025.
J.P. Morgan Asset Management forecasts an average annual return of 7.8 percent for Chinese equities over the next 10 to 15 years, driven by China's focus on enhancing productive forces.
Int'l investment banks bullish on gold, Chinese equities in 2025
Int'l investment banks bullish on gold, Chinese equities in 2025
Iranian Foreign Minister Seyed Abbas Araghchi said on Monday that the situation in Iran is "under total control" following violence linked to protests that spiked over the weekend.
Addressing foreign diplomats in Tehran, the foreign minister noted that armed terrorist groups had infiltrated the protests, attempting to divert them from their legitimate course. He claimed that evidence has been gathered showing Iranian security forces being shot at, with the aim of causing further casualties. He accused the United States and Israel of exploiting the unrest to interfere in Iran's internal affairs.
Araghchi further stated that the government is closely monitoring developments on the streets, emphasizing that "the situation has come under control." He also affirmed that internet services, curtailed during the unrest, would be restored after coordination with security agencies.
The government has engaged in dialogue with merchants and protest representatives and initiated reforms to address grievances related to price hikes and currency depreciation. Iran has taken a series of actions and measures to respond to the demands of peaceful demonstrators, the foreign minister said.
Earlier on Sunday, Araghchi said that clear evidence links recent riots and vandalism of public facilities in Iran to the Israeli intelligence agency Mossad. This came after former U.S. Secretary of State Mike Pompeo mentioned Mossad agents operating on Iran's streets in a social media post. The Iranian foreign minister asserted that police are being attacked by "terrorists" acting under the direction of Israeli operatives, whom Pompeo publicly acknowledged.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and U.S. sanctions.
Iranian foreign minister says situation "fully under control," accuses Israeli intelligence of stoking unrest
