Investing.com — Goldman Sachs has upgraded Cummins Inc (NYSE:CMI). to Buy from Neutral, citing a turning point in machinery supply trends and improving fundamentals in the company’s Power Systems division. “Machinery supply is inflecting positively for the first time in three years,” Goldman Sachs (NYSE:GS) wrote, noting that its April Supply Tracker and backtesting reports
Gains in silver prices have not matched gold’s dizzying rally.Ravitaliy/Getty Images Gains in silver prices are unlikely to catch up to the gold rally, Goldman Sachs analysts wrote. Central banks’ gold demand has driven the gold-silver price ratio out of its historical range since 2022. Economic uncertainty is fuelling a gold rally. Meanwhile, silver prices
Sven Hoppe/picture alliance via Getty Images Goldman Sachs recommends investors buy gold as recession risks remain high. Gold is preferred over Treasurys for hedging the risk of US government instability. Central banks’ dollar diversification efforts should also boot gold demand, Goldman said. Investors should buy gold as the stock market continues to underprice the risk
Chinese investors have been flocking to exchange-traded funds (ETFs) tracking the price of gold, hoping to take advantage of the precious metal’s world-beating rally as stocks remain in the doldrums amid a tariff war. The 13 mainland-domiciled gold ETFs have attracted new subscriptions of at least 7.9 billion units so far this year, according to
(Bloomberg) — China saw an explosive surge in gold trading last week as the metal hit successive records and Sino-US trade tensions rose. Most Read from Bloomberg The Shanghai Futures Exchange saw trading volumes of the precious metal hit the highest level in a year last week. That was thanks to investors and industry players
Three of the largest banks in the US say one of the year’s best performing assets still has more room to run to the upside. Starting with Bank of America, head of metals research Michael Widmer says that while the precious gold may witness a short-term pullback after hitting a new record high of $3,085,
Gold Is On Fire: Demand Is So High That Dealers Are Importing Gold Bars From Abroad On Commercial Jets Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. If you’ve recently flown from London to the U.S., something very valuable may have been in the cargo hold
(Bloomberg) — Goldman Sachs Group Inc. named Elizabeth Overbay the chief financial officer of its critical $3.1 trillion asset and wealth management division. Most Read from Bloomberg Overbay succeeds Thomas Manetta, who will join the bank’s human resources team overseeing corporate compensation, according to a memo to staff seen by Bloomberg News. Overbay is currently
Gold’s (GC=F) glittering run in 2025 may have more room to rise higher, Goldman Sachs believes. On Tuesday, the investment bank lifted its year-end price target for gold to $3,100 an ounce, from $2,890 previously. Goldman said “structurally higher” central bank demand will add 9% to the price of gold by the end of the
Cash harvesting sounds more like farming than mining, but that’s the point reached by goldmining companies which are awash with cash after three years of high gold prices. Top of the cash harvesting list, according to investment bank Goldman Sachs, is the world’s biggest miner of the precious metal Newmont Corporation. Gold ingots. Photographer: Andrey