PIMCO: Short-term supportive factors for gold have weakened; tactical allocation shifts to neutral.

Matt Bance, Strategist and Portfolio Manager at T. Rowe Price Multi-Asset Solutions, stated that the near-term supportive factors for gold have weakened compared to the early stages of its rally. Although gold remains attractive over the longer term, the current risk-reward balance has become more neutral. Ongoing uncertainties surrounding Middle East conflicts, energy markets, and policy outlooks could constrain gold’s near-term upside potential. Consequently, he noted a tactical shift toward a more neutral positioning. He added that central bank demand for gold appears to have slowed, with market capital rotating into other areas exhibiting stronger cyclical and structural growth drivers, such as sectors benefiting from artificial intelligence.

AASTOCKS15:55

Goldman Sachs' Latest Ratings and Target Prices for Resource Stocks (Table)

Company | Target Price | Rating Steel: Angang Steel (00347.HK) | HK$1.20 → HK$1.15 | Maintain "Sell" Angang Steel (000898.SZ) | RMB1.70 → RMB1.65 | Maintain "Sell" Baosteel (600019.SH) | RMB7.50 → RMB6.70 | Maintain "Neutral" Maanshan Iron & Steel (00323.HK) | HK$2.50 → HK$2.20 | Maintain "Neutral" Maanshan Iron & Steel (600808.SH) | RMB2.70 → RMB2.40 | Maintain "Sell" Coal: China Shenhua (01088

AASTOCKS12:19

Goldman Sachs Adjusts Profit Forecasts for China's Commodities and Basic Materials Stocks, Raises Target Prices for Coal Stocks

Goldman Sachs published a commodities research report updating its earnings forecasts for China’s basic materials and agriculture sectors to reflect year-to-date market price movements. The firm made minor adjustments to its commodity price forecasts, downgrading earnings expectations for the steel, cement, gold, and paper sectors, while upgrading those for copper and coal. In terms of investment strategy, the firm is relatively bullish on coal and copper, while maintaining a cautious stance on aluminum and lithium. Regarding the steel and cement sectors, Goldman Sachs noted that although China’s steel industry continues its efforts to combat 'internal competition' (‘anti-inward competition’) and maintains its long-term capacity reduction plans, it expects delays in enforcing production capacity and output discipline in 2026.

AASTOCKS12:16

Citi maintains bearish outlook on gold, lowering short-term target price to USD 4,000 per ounce

Citi published a report stating that gold closed below its 200-day moving average for the first time since September 2023, following strong U.S. employment data released last Friday (the 5th). The bank maintains a bearish outlook on gold and has lowered its price target for the next 0–3 months from USD 4,300 per ounce to USD 4,000. The report noted that sustaining current gold prices would require physical gold purchases to continue at a pace of approximately USD 900 billion annually, compared with a historical norm of USD 250–400 billion per year between 2010 and 2024 (in today’s dollars). The bank expressed concern that if the Strait of Hormuz remains disrupted throughout the summer…

AASTOCKS11:00

Iranian Missiles Directly Target Israel: New Offensive Regional Ambitions Are Emerging

The latest round of direct clashes between Israel and Iran has further clarified Tehran's strategic intent: to expand its regional influence through missile strikes while demonstrating its continued capacity to retaliate effectively under pressure from the U.S. and Israel. Recent salvos of ballistic missiles are seen as a significant signal of Iran's attempt to alter the regional balance of power.

Golden10 Data09:36

ZIJIN MINING To Go Ex-Dividend On June 9th, 2026 With 0.43673 HKD Dividend Per Share

June 9th (Beijing Time) - $ZIJIN MINING(02899.HK)$ is trading ex-dividend on June 9th, 2026.Shareholders of record on June 10th, 2026 will receive 0.43673 HKD dividend per share on July 10th, 2026.

Futu News06:05