"Despite yesterday's pullback in gold, we have to remember that growing geopolitical tension, economic uncertainty, expectations of further interest rate cuts, a weak dollar, and strong interest from central banks could send gold prices screaming even higher. In fact, as we noted just yesterday, Bank of America is targeting $5,000 by 2026. JPMorgan is targeting $5,055. HSBC analysts are targeting $5,000 by early 2026, too."
"All after the U.S. Space Development Agency awarded RKLB a prime contract to design and manufacture 18 satellites for the Tracking Layer Tranche 3 program under the Proliferated Warfighter Space Architecture, as noted in a press release. "Under the $816 million contract, Rocket Lab will deliver satellites equipped with advanced missile warning, tracking, and defense sensors to provide global, persistent detection and tracking of emerging missile threats, including hypersonic systems," as noted by Seeking Alpha."
Gold rebounded about $55 this morning after a 4.5% pullback, pushing mining stocks higher with Newmont up roughly $1.85, SSR Mining up about $0.50, and Freeport-McMoRan up about $0.80. Growing geopolitical tension, economic uncertainty, expectations of further interest rate cuts, a weak dollar, and strong central-bank buying could send gold prices much higher. Bank of America and HSBC target $5,000 by 2026 and JPMorgan targets $5,055. Rocket Lab shares rose about $2 premarket after Needham raised its price target to $90 and after a U.S. Space Development Agency $816 million contract to build 18 tracking satellites. Rocket Lab reported Q3 revenue up 48% to $155.1 million and narrowed its Q3 EPS loss to -$0.03.
Read at 24/7 Wall St.
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