Goldman Sachs has reaffirmed its bullish outlook on gold, citing increased central bank demand and expectations of a Fed rate cut. However, the investment bank downgraded its iron ore price forecast due to oversupply concerns despite stabilizing demand from China.
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UBS has downgraded its outlook for palladium, predicting a price decline to $900 per ounce by the end of 2024. The shift in sentiment is attributed to a decline in demand for auto catalysts, a surplus in the palladium market, and negative risk assessment by the option market. Investors are advised to proceed with caution due to palladium’s low trading volumes and limited market size.