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People's Bank of China Sets USD/CNY Mid-Point at 6.7200
Hang Seng tests double bottom at 23,692.5: Live levels
Citi Australia CEO Questions Effectiveness of US Treasuries as Portfolio Hedge
Indonesia to Remove Tightly Held Stocks From Benchmark Index
Japan’s Katayama Vows Fiscal Prudence on Defense Funding
Gold slips as investors weigh Fed rate outlook
China leaves loan rates steady for 17th consecutive month
Asian Stocks Decline in Break From US Chip Rally: Markets Wrap
Fintech GCash’s Owner Gains in Debut After Record Philippine IPO
NAB to cut 2,500 jobs as bank moves to simplify operations
Indonesia to Remove Tightly Held Stocks From Key Index
Dollar and euro drift, yen slips as markets seek direction
Oil holds near five-month high as Hormuz attacks threaten supply recovery
SK Hynix plunges with RSI at 19.94 in fierce downtrend: Live
Nikkei 225 pivots at 64,350 with RSI nearing oversold: Live levels
China keeps benchmark lending rates steady for 17th straight month in Oct
Activist Starboard targets Honeywell spin-off Solstice after failed megadeal
Oil eases as markets assess potential waiver on Russian energy, Middle East supply risks
OpenAI races to raise $30 bln ahead of Anthropic IPO, Reuters reports
US Navy Guidance Influences Reporting of Shipping Attacks in Strait of Hormuz
People's Bank of China Expected to Set USD/CNY Reference Rate at 6.6813
Nursing is a well-paid career path that isn’t easily automated away. So why are so many quitting?
IMF-World Bank Meetings Highlight Debt, AI, and Ukraine
Ambani looks to pull off India’s biggest IPO
BHP Q1 copper output falls 19% on lower grades, disruptions
Honeywell Aerospace sees business aviation growth on rising aircraft use
China’s villages pay the price for Beijing’s AI ambitions
Trump envoys to hold fresh Ukraine talks as energy crunch looms over midterms
KLEA Finance Daily: Monday, October 19, 2026
US Delays Transfer of Patriot Missiles to Ukraine Amid Intensifying Conflict
JPMorgan Launches JPM Coin on Ethereum Mainnet
BlackRock Highlights Selectivity in Bond Markets Amid French Sell-Off
Iran oil exports through Hormuz dry up under US blockade
Asian Stocks Shrug Off US Chip Rally, Oil Steadies: Markets Wrap
French Protests Taper Off as Officials Admit Failure
Gold Holds Decline as Energy-Led Inflation Weighs on Rate Path
BYD is playing the long game in Japan
Waymo plans to quintuple fleet to 20,000, Semafor reports
OpenAI Aims for $1.4 Trillion Valuation Before Anthropic IPO
OpenAI Seeks Investor Commitments Ahead of Anthropic IPO
14 dead, 7 injured in Colombia illegal gold mine collapse
NAB to Cut 2,500 Staff as Australia Mortgage Pain Hits Banks
UBS Highlights Divergence in AI Market Amid Neocloud Sell-Off
Copper Boom Belies a Deepening ‘Mining Recession’ in Top Producer
Stifel Financial Leads $31.6 Million Investment in Meow Technologies
UBS Projects Euro to Rebound to $1.16 by Year-End 2026
Brazil’s Americanas exits bankruptcy proceedings
Mynt’s Record IPO Brings a New Heavyweight to Philippine Stocks
Salmon Group Secures $140 Million in Funding to Expand Operations in the Philippines
People’s Bank of China Plans Shift to Overnight Rate as Main Policy Tool
Goldman Sachs Raises Brent Oil Forecast Amid Iran War Risk Premium
Netflix, America’s Dominant Streaming Service, Has Hit a Wall
AI Tool Predicts Cancer Survival Chances With Single Face Photo
U.S. Administration Has Not Approved Transfer of Interceptor Missiles to Ukraine
US stocks rebound with AI earnings test ahead, euro falls on France unrest
Former Google CEO Schmidt owns 1% stake in Anthropic, Bloomberg reports
Anthropic and Nscale in talks for second multibillion-dollar deal
Healey rules out increasing capital gains tax in the Budget
Alberta Regulator Seized Gas Wells on Army Base Before Fire
NAB to Cut 2,500 Jobs, Use Fewer Consultants and Contractors
US Stock Futures Edge Higher After Chipmaker Rally: Markets Wrap
Latest Oil Market News and Analysis for Oct. 20
US set to announce certification of Boeing 737 MAX 10 on Tuesday, sources say
Musk, Anthropic outline dueling approaches to AI-era philanthropy
Elizabeth Holmes Documentary Sees Strong $15.6 Million Debut
Scotiabank Predicts Interest Rate Hike by Bank of Canada Amid Inflation Concerns
Central Banks Purchase 79 Tonnes of Gold in August, Led by China
US Strategic Petroleum Reserve Hits Lowest Level Since 1982 Amid Ongoing Oil Release
Moody’s upgrades Oshkosh to Baa2 on strengthening business mix and stable outlook
CIBC Lowers Gold Price Forecasts Amid Economic Challenges
CIBC has revised its gold price forecasts significantly, reflecting the impact of rising energy prices, a stronger US dollar, and a more hawkish stance from the Federal Reserve. In its October report, the Canadian bank reduced its average gold price estimate for 2027 to $5,200 per ounce from $6,500, and for 2028 to $5,500 from $6,000. The forecast for the fourth quarter of 2026 has also been cut to $4,500 from $6,500, although these figures remain above the consensus estimates of $4,620 for 2027 and $4,451 for 2028.
The report highlights the complex dynamics affecting gold demand, particularly in light of geopolitical tensions such as the US-Iran conflict, which have increased demand for gold as a safe haven. However, these tensions have also contributed to rising oil prices and inflation expectations, strengthening the dollar and leading to tighter monetary policy, which poses challenges for gold as a non-yielding asset. CIBC suggests that gold could benefit if economic growth slows or inflation decreases enough to prompt the Federal Reserve to adopt a more accommodative policy stance.
In addition to gold, CIBC has also downgraded its silver price forecast for 2027 to $85 per ounce from $120, while raising its copper forecast to $6.50 per pound for the fourth quarter and for both 2027 and 2028. The outlook for copper is driven by demand from grid modernization and renewable energy initiatives, contrasting with gold's reliance on investment flows and monetary policy developments. CIBC anticipates gold exchange-traded fund (ETF) demand to reach 1,000 tonnes annually in 2027 and 2028, alongside significant central bank purchases, which could support a recovery in gold prices over the next few years.
© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: KLEA News