ING Believes Gold Will Reach New Record Levels by 2025

Foreks - ING expects the balance of supply and demand to remain relatively relaxed in 2025, with most commodities trending downward.

ING stated, "While the potential for escalating trade tensions poses a downward risk, markets are waiting to see if and when China's support measures will translate into stronger demand in the commodity markets."

Regarding metals, ING believes that gold will reach new record levels in 2025, noting, "Central banks will continue to ease monetary policies, and the escalation of trade tensions may drive a shift towards safe-haven assets. We also believe that central banks will continue to be strong buyers of gold to diversify their reserves."

Assessing the situation, ING commented, "The outlook for industrial and base metals appears somewhat clouded due to trade frictions and potential changes in the U.S. Inflation Reduction Act putting pressure on metals. Metal markets are also waiting to see if the recent support measures from China will finally reflect in the commodity complex and, if not, whether further stimulus is on the way."