Research & Stock Picks

Company Reports

25 November 2024

By

Gold Weekly (18-22 November 2024): Avg. USD 2,656/oz (+2.8% WoW)

Recent Catalysts Driving the Price

  • In the last five trading days, average gold prices spiked +2.8% WoW to USD 2,656/oz (from USD 2,584/oz), although DXY index inched higher to USD 106.7 (+0.4% WoW). Gold resumed its upward trend on escalating geopolitical tensions between Russia and Ukraine, with US involvement exacerbating the situation.
  • Prices breached USD 2,700 for the first time in two weeks as safe-haven demand outweighed USD strength due to escalation in Russia-Ukraine tensions, highlighted by Ukraine's first long-range missile (supplied by the US) striked on Russian territory. This potential expansion into Russia-US conflict, coupled with reduced expectations of a Fed rate cut in December (53%, down from 82.5%), bolstered short-term safe-haven appeal.
  • We maintain our FY24 gold price estimate at USD 2,400/oz (YTD: USD 2,362/oz), despite the recent revisit to above the USD 2,700/oz level, supported by heated geopolitical tensions. Stock-wise, we retain BRMS as our top pick (TP IDR 500; USD 26.4/ton EV/Reserve FY25F), driven by its robust dore bullion production, strong earnings outlook, and substantial untapped assets potential.

Share This:

harga emas melesat

Download PDF

Download PDF

UPDATE_Gold_Weekly_20241125

Download PDF

UPDATE_Gold_Weekly_20241125

More Related

Technical Stock Analysis

Dec 12, 2024

Morning Briefs

Dec 12, 2024

Morning Briefs

Dec 11, 2024

Technical Stock Analysis

Dec 11, 2024

Economic Reports

Dec 10, 2024

Technical Stock Analysis

Dec 10, 2024

Economic Reports

Dec 10, 2024

Morning Briefs

Dec 9, 2024

Technical Stock Analysis

Dec 9, 2024

Tantangan Batu Bara di Akhir 2024

Company Reports

Dec 6, 2024

tekan harga tembaga

Company Reports

Dec 6, 2024

pertumbuhan solid oil n gas

Company Reports

Dec 6, 2024

Company Reports

Dec 6, 2024

Technical Stock Analysis

Dec 6, 2024

Economic Reports

Dec 6, 2024

Morning Briefs

Dec 5, 2024

Technical Stock Analysis

Dec 5, 2024

Economic Reports

Dec 5, 2024

tren harga CPO

Company Reports

Dec 4, 2024

Morning Briefs

Dec 4, 2024

Technical Stock Analysis

Dec 4, 2024

Economic Reports

Dec 3, 2024

Technical Stock Analysis

Dec 3, 2024

Company Reports

Dec 2, 2024

Economic Reports

Dec 2, 2024

Economic Reports

Dec 2, 2024

Morning Briefs

Dec 2, 2024

Technical Stock Analysis

Dec 2, 2024

Morning Briefs

Nov 29, 2024

Technical Stock Analysis

Nov 29, 2024

Economic Reports

Nov 28, 2024

Company Reports

Nov 28, 2024

Technical Stock Analysis

Nov 28, 2024

Morning Briefs

Nov 28, 2024

Technical Stock Analysis

Nov 26, 2024

Company Reports

Nov 26, 2024

Economic Reports

Nov 25, 2024

Economic Reports

Nov 25, 2024

Technical Stock Analysis

Nov 25, 2024

Morning Briefs

Nov 25, 2024

Company Reports

Nov 22, 2024

Technical Stock Analysis

Nov 22, 2024

Morning Briefs

Nov 22, 2024

peluang aces ditengah gejolak ekonomi

Company Reports

Nov 21, 2024

Economic Reports

Nov 21, 2024

laba bni

Company Reports

Nov 21, 2024

Morning Briefs

Nov 21, 2024

Technical Stock Analysis

Nov 21, 2024

Economic Reports

Nov 20, 2024

Morning Briefs

Nov 20, 2024

Technical Stock Analysis

Nov 20, 2024

Economic Reports

Nov 20, 2024

Morning Briefs

Nov 19, 2024

Technical Stock Analysis

Nov 19, 2024

Economic Reports

Nov 19, 2024

pertumbuhan bbca

Company Reports

Nov 18, 2024

Economic Reports

Nov 18, 2024