Major banks are raising their gold forecasts as the U.S. dollar continues to weaken. UBS has lifted its target price for gold to $6,200 per ounce for the first three quarters of 2026 (up from $5,000 previously), projecting a pullback to around $5,900 after the U.S. midterm elections. CIBC revised its 2026 forecast to $6,000 from $4,500, citing the “declining value of the dollar” and ongoing geopolitical uncertainty driving demand for safe-haven assets. Goldman Sachs also raised its year-end target to $5,400, pointing to continued diversification by central banks and private investors.
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Ethereum funding rates turn positive despite a 14% weekly drop Funding rates for Ethereum have flipped into positive territory, even after the asset suffered a 14% decline over the past week. On BitMEX, rates surged to 0.049% - the highest level since October - as traders bet on a rebound despite the steep correction. This shift in sentiment follows a brutal week that saw over $2.67 billion in leveraged positions wiped out, with the majority of losses coming from long traders. Analysts caution that the renewed appetite for leveraged longs could heighten the risk of another correction, particularly as trading volumes have dropped by 32% and liquidity remains thin.
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Gm! Who wants juicy fruits? 😋
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