M Stanley Foresees Gold Price to Hike to US$2,100 in 1Q24

Morgan Stanley's US economists anticipated that the US Federal Reserve will introduce the first rate cut in March 2024, and forecast the gold price to elevate to USD2,100 per ounce in the first quarter of 2024, from the current level of USD1,900 per ounce, the broker stated in a recent report.

Under the environment of rising gold prices, Morgan Stanley selected ZHAOJIN MINING (01818.HK)  +0.100 (+0.871%)    Short selling $4.26M; Ratio 6.617%   as the top pick, with its H-share target price added from $12.5 to $12.9, with an Equalweight rating. SD GOLD (01787.HK)  -0.120 (-0.752%)    Short selling $477.05K; Ratio 4.631%   was also rated at Equalweight, with its H-share target price raised from $16.1 to $16.6.

By Aastocks

Source: Aastocks_com