UBS Bullish On Gold, Silver In 2024; Global Mining Supply Market Hits New Highs; South Africa's President Calls For End To Abuses In Mining, Metals Sectors
Portfolio Pulse from Austin DeNoce
UBS predicts a bull market for gold and silver in 2024, driven by potential Federal Reserve interest rate cuts, with gold expected to reach $2,200 per ounce. The global mining equipment market is also forecasted to grow significantly, benefiting companies like Deere & Company, Caterpillar, and Komatsu America Corp. South Africa's President highlights challenges in the mining sector, including energy shortages and illegal activities, impacting the country's attractiveness to investors.
February 05, 2024 | 10:44 pm
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POSITIVE IMPACT
Caterpillar is likely to see positive impacts from the expanding global mining equipment market, thanks to increased gold demand and advancements in mining technology.
Caterpillar's strong presence in the mining equipment market positions it to benefit from the sector's growth, driven by the rising demand for gold and technological innovations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Deere & Company is projected to benefit from the growing global mining equipment market, driven by increased demand for gold and technological advancements in mining.
Deere & Company's involvement in the mining equipment sector positions it to benefit from the market's expected growth, driven by surging demand for gold and the adoption of new technologies.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Komatsu America Corp stands to benefit from the growth in the global mining equipment market, propelled by the increasing demand for gold and the integration of new technologies in mining.
Komatsu America Corp's engagement in the mining equipment industry allows it to capitalize on the market's expected expansion, fueled by the surging demand for gold and the adoption of innovative technologies.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80