Overseas Research Daily Report 0605 | ANZ Bank: Copper prices may rise to $14,000 by year-end - Moomoo

Overseas Research Daily 0605 | ANZ: Copper prices may rise to $14,000 per tonne by year-end - 富途牛牛

BofA Sees Powerful AUD Upside on Copper Strength and Rate Outlook - MEXC

Institutions have revised down their year-end gold price forecast to $5,500, but the long-term bullish case remains intact. - Moomoo

Global Commodities: Metals headed for even greater heights

The desk maintains a bullish outlook on both gold and copper, anticipating significant price increases by 2026. Per the full note from J.P. Morgan, gold is projected to reach $5,000/oz by 4Q26, driven by ongoing diversification into gold by both official reserves and investors. Additionally, copper is expected to surge to $12,500/mt in 1H26, fueled by acute supply disruptions and tightening inventories. This perspective aligns with our broader bullish sentiment on commodities, particularly in light of the current macroeconomic environment.