Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Standard Chartered PLC
  6. News
  7. Summary
    STAN   GB0004082847

STANDARD CHARTERED PLC

(STAN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Analysts cut gold forecasts as economic growth recovers

04/27/2021 | 10:07am EDT
FILE PHOTO: A worker places gold bullion on display at Hatton Garden Metals precious metal dealers in London

BENGALURU (Reuters) - Analysts and traders have slashed their gold price forecasts, with many believing a return to last year's record highs is unlikely as economic recovery tarnishes the safe-haven metal's appeal, a Reuters poll showed on Tuesday.

Spot gold has fallen to around $1,775 an ounce from an all-time high of $2,072.50 last August, when the COVID-19 pandemic upended economies and forced central banks to pump money into markets and cut interest rates.

Gold and silver prices https://fingfx.thomsonreuters.com/gfx/ce/xlbvgedazvq/Gold%20and%20Silver.PNG

Returns on government bonds, an asset class that competes with gold, plunged last year, but U.S. Treasury yields have rebounded, fuelling talk of sooner-than-expected central bank tightening that would hurt bullion.

The poll of 42 analysts and traders returned a median forecast for gold of $1,784 an ounce for 2021 and $1,743 for 2022 - sharp downgrades from projections of $1,925 and $1,908 respectively in a similar poll three months ago.

"Most of the drivers (of the rally) are fading," said Societe Generale analyst Florent Pele.

Analysts said, however, that interest in gold could be rekindled by events such as a weakening of the U.S. dollar, an inflation surge, falling stock markets or a wave of coronavirus infections big enough to derail economic growth.

They also said a revival in gold demand in Asia from a slump earlier in the pandemic would prevent prices from falling too far.

Gold versus real yields https://fingfx.thomsonreuters.com/gfx/ce/jbyvrwdyxpe/Gold%20versus%20real%20yields.PNG

The poll forecast silver would average $25.75 an ounce this year - down from a forecast of $25.86 in the previous survey - and $25 for 2022.

Most respondents said silver would outperform gold this year thanks to robust industrial consumption. Large quantities of silver are used in industries such as electronics and solar panels.

"Given silver's use in renewables ... longer-term investor interest is likely to remain supportive of prices, particularly as industrial demand firms," said Standard Chartered analyst Suki Cooper.

(Reporting by Sumita Layek in Bengaluru. Editing by Peter Hobson and Mark Potter)

By Sumita Layek


ę Reuters 2021
All news about STANDARD CHARTERED PLC
05/07DGAP-NEWS : Heirs Oil & Gas annonce la nomination de son PDG et de son conseil d..
DJ
05/07PRESS RELEASE : Heirs Oil & Gas Announces CEO and Board Appointments
DJ
05/07STANDARD CHARTEREDá : Director/PDMR Shareholding
PU
05/06REDCO PROPERTIESá : to Sell More of Its Existing 8% Bonds Due 2022
MT
05/06KB FINANCIALá : South Korea's Kookmin Bank to List $500 Million Bonds in Singapo..
MT
05/06STANDARD CHARTEREDá : Monthly Return of Equity Issuer on Movements in Securities..
PU
05/06STANDARD CHARTEREDá : Notification of Major Holdings
PU
05/05MARKET CHATTER : Digital Lenders Backed by ZhongAn, StanChart Grab 70% of Hong K..
MT
05/05Hunt for yield to keep dollar weak for at least three months
RE
05/05Hana Financial’s KEB Hana Bank to List $34 Million Renminbi Bonds in Si..
MT
More news
Financials (USD)
Sales 2021 15 048 M - -
Net income 2021 1 805 M - -
Net Debt 2021 - - -
P/E ratio 2021 11,2x
Yield 2021 2,67%
Capitalization 22 495 M 22 494 M -
Capi. / Sales 2021 1,49x
Capi. / Sales 2022 1,42x
Nbr of Employees 82 084
Free-Float 93,2%
Chart STANDARD CHARTERED PLC
Duration : Period :
Standard Chartered PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends STANDARD CHARTERED PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 7,68 $
Last Close Price 7,23 $
Spread / Highest target 40,6%
Spread / Average Target 6,24%
Spread / Lowest Target -24,1%
EPS Revisions
Managers and Directors
NameTitle
William Thomas Winters Group Chief Executive Officer & Executive Director
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
JosÚ Vi˝als Group Chairman
Michael Gorriz Group Chief Information Officer
David Whiteing Group Chief Operating Officer
Sector and Competitors