Even if it maintains the view of global oversupply this year, Goldman Sachs has raised its oil price forecast for the fourth quarter by $6 per barrel as inventories in advanced economies remain low.

The Wall Street bank lifted its Q4 2026 price estimate by $6 to $60 per barrel Brent Crude and made the same upward revision of its WTI Crude price outlook, to $56 per barrel at year-end, on the back of lower-than-expected stocks in the OECD countries, according to a Sunday note cited by Reuters.

Early on Monday in Asian trade, the U.S. benchmark WTI Crude was trading 1% lower at $65 per barrel, and Brent Crude was down 1% at $71 a barrel amid uncertainties over the U.S. trade policies after the Supreme Court struck down President Trump’s so-called retaliatory tariffs.

Oil prices have jumped in recent weeks on the prospect of a U.S. military campaign in Iran. 

The investment bank’s base-case scenario continues to assume there would be no supply disruptions related to Iran.

Goldman’s supply-demand balance for 2026 remains at a surplus of 2.3 million barrels per day (bpd), assuming no major supply disruptions and no peace reached in the Russia-Ukraine talks.

Goldman lifted its Q4 2026 Brent forecast to $60 and WTI to $56 per barrel, citing lower-than-expected OECD stock levels.

The bank still projects a 2.3 million bpd surplus in 2026, assuming no major supply disruptions.

OPEC+ may resume production increases in 2026 amid limited inventory builds and shifting market dynamics.

Lower OECD inventories, however, have prompted the bank to hike its year-end oil price forecast.

Last month, Goldman Sachs said that WTI could drop all the way to $50 per barrel towards the end of this year, amid expected excess supply that would put pressure on benchmarks.

OPEC+ could reinstate production increases in the second quarter of 2026, considering the lack of meaningful builds in OECD stocks so far this year, the bank said on Sunday.

Reports emerged earlier this month that the OPEC+ alliance is leaning toward resuming production increases from April following a pause in output hikes in the first quarter.   

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com

Tariff uncertainty boosted demand for safe-haven assets, which was bullish for gold. However, it looks that traders want to see more positive catalysts before they will be ready to push gold prices towards new highs.

The rebound in U.S. equity markets has also put pressure on gold in today’s trading session. Yesterday, software stocks got decimated as traders worried that AI will eliminate businesses of software companies.

The huge sell-off in IBM stock, which was triggered by new features of Anthropic’s Claude, served as a positive catalyst for gold as traders rushed for safety.

Today, the rebound in the U.S. equity markets signals that investors’ appetite for risk increased, so it’s not surprising to see that gold has found itself under pressure.

The absence of news from Iran has also served as a negative catalyst for gold prices. For days, traders waited for a potential U.S. strike against Iran. However, U.S. – Iran negotiations are set to continue, so geopolitical premium declined. Traders should note that geopolitical premium may skyrocket in case U.S. strikes Iran, which remains a viable scenario.

From the technical point of view, gold pulled back towards the nearest support level, which is located in the $5100 – $5120 range. A successful test of the support at $5100 – $5120 will open the way to the test of the next support at $4880 – $4900.

Despite providing bullish momentum by stochastic, however the fluctuation below the initial barrier at $3.520 level, which pushed it to form new bearish waves, repeating the pressure on the main support at $3.000.

The current support forms detecting key for the main trend in the upcoming trading, to expect its stability to begin forming new bullish waves, motivating it to surpass $3.520 barrier, to record new gains by its rally towards $3.750 and $4.000, while breaking the support and holding below it will force it to suffer big losses, to expect reaching $2.850 and $2.660 initially.

The expected trading range for today is between $3.000 and $3.520

Trend forecast: Bullish

Copper price kept providing bullish trading, to move away from $5.5100 support, taking advantage of providing bullish momentum by the main indicators, to settle near $5.8500.

The price needs extra positive momentum, which allows it to settle above $5.9700 level, to confirm its readiness to record extra gains by its rally towards $6.1200 and $6.2400, while the failure to breach $5.9700 might force it to provide mixed trading with a new chance to activate the bearish corrective track in the upcoming period trading.

The expected trading range for today is between $5.7200 and $5.9700

Trend forecast: Bullish

Copper price kept providing bullish trading, to move away from $5.5100 support, taking advantage of providing bullish momentum by the main indicators, to settle near $5.8500.

The price needs extra positive momentum, which allows it to settle above $5.9700 level, to confirm its readiness to record extra gains by its rally towards $6.1200 and $6.2400, while the failure to breach $5.9700 might force it to provide mixed trading with a new chance to activate the bearish corrective track in the upcoming period trading.

The expected trading range for today is between $5.7200 and $5.9700

Trend forecast: Bullish

BitcoinWorld

Silver Price Forecast: XAG/USD Holds Steady at $87.50 as Safe-Haven Demand Surges Amid Global Uncertainty

Global financial markets witnessed a significant development on Tuesday, March 18, 2025, as the spot silver price (XAG/USD) consolidated firmly around the $87.50 per ounce level. This stabilization follows a period of notable volatility and underscores a powerful resurgence in safe-haven asset demand. Consequently, investors are closely analyzing the silver price forecast for clues about broader market sentiment and economic direction.

Silver Price Forecast: Analyzing the $87.50 Consolidation

The recent trading session saw XAG/USD establish a strong support base near $87.50. Market data from major exchanges shows consistent buying interest emerged each time the price approached this threshold. This price action reflects a complex interplay of macroeconomic forces currently shaping the precious metals landscape. Analysts point to several key factors supporting this level.

Firstly, renewed concerns about global economic growth have prompted a strategic portfolio reallocation. Secondly, ongoing geopolitical tensions in multiple regions continue to drive capital toward traditional stores of value. Thirdly, currency market fluctuations, particularly in the US Dollar Index (DXY), have created favorable conditions for dollar-denominated commodities like silver. The metal’s dual role as both a monetary and industrial asset provides a unique demand profile that differs from gold.

The Driving Forces Behind Safe-Haven Demand in 2025

Safe-haven demand is not a monolithic force but a reaction to specific, verifiable pressures in the global system. In the current climate, this demand stems from three primary sources. Persistent inflation concerns, though moderated from previous highs, continue to erode the real value of fiat currencies. Investors therefore seek assets with intrinsic value and historical inflation-hedging properties.

Furthermore, equity market corrections in key technology and growth sectors have triggered a classic flight-to-safety move. Bond market volatility has also diminished the appeal of traditional fixed-income havens for some institutional players. According to recent commitment of traders reports, managed money positions in silver futures have shifted noticeably, indicating a change in professional sentiment. This institutional interest provides a substantial foundation for the current price level.

Expert Insight: The Industrial Demand Backstop

While financial demand captures headlines, the physical market provides crucial underlying support. Analysts from the Silver Institute emphasize the structural deficit in the physical silver market. Mine supply growth remains constrained, while industrial consumption continues its long-term upward trajectory. Key sectors driving this include:

• Green Energy: Photovoltaic (PV) cell production for solar panels is a major and growing consumer.
• Electronics: Silver’s superior conductivity makes it irreplaceable in many high-end components.
• Automotive: The proliferation of electric vehicles (EVs) increases silver use in batteries and electronics.

This consumption creates a price floor that is increasingly resilient. Even during periods of weak investment demand, industrial offtake prevents severe price collapses. The current convergence of strong investment and industrial demand creates a uniquely bullish setup for the silver price forecast.

Technical and Fundamental Analysis Convergence

Chart analysis reveals that the $87.50 zone represents a significant technical confluence. It aligns with the 50-day moving average and a previous resistance level from late 2024, which has now turned into support. This technical strength bolsters the fundamental narrative. On-chain data for silver-backed ETFs also shows consistent inflows over the past month, confirming the physical backing for the price move.

Monetary policy expectations remain a critical watchpoint. Commentary from the Federal Reserve and other major central banks is parsed for hints about the pace of balance sheet normalization and interest rate paths. Historically, silver outperforms in the latter stages of a tightening cycle as the focus shifts to economic growth concerns. The current environment suggests we may be entering such a phase.

Conclusion

The silver price forecast remains cautiously optimistic as XAG/USD demonstrates resilience around $87.50. This stability is directly attributable to robust safe-haven demand fueled by geopolitical uncertainty and economic crosscurrents. The metal benefits from a powerful combination of monetary appeal and irreplaceable industrial utility. While volatility is inherent to commodity markets, the fundamental and technical foundations for silver appear solid. Investors and analysts will monitor upcoming economic data, central bank signals, and physical market indicators to gauge the next directional move for the silver price.

FAQs

Q1: What does XAG/USD mean?
XAG is the ISO 4217 currency code for silver, representing one troy ounce. XAG/USD is the exchange rate showing how many US dollars are needed to purchase one ounce of silver.

Q2: Why is silver considered a safe-haven asset?
Silver is a tangible asset with intrinsic value, limited supply, and a millennia-long history as a store of wealth. During times of market stress, inflation, or geopolitical tension, investors often allocate funds to precious metals to preserve capital.

Q3: How does industrial demand affect the silver price forecast?
Industrial consumption, which accounts for over half of annual silver demand, provides a consistent baseline of physical offtake. This creates a structural support level, making the market less reliant on purely financial investment flows and adding long-term price stability.

Q4: What are the main risks to a higher silver price forecast?
Key risks include a significant strengthening of the US dollar, a sharp rise in real interest rates that increases the opportunity cost of holding non-yielding assets, a deep global recession that crushes industrial demand, or a sudden resolution of geopolitical conflicts that reduces safe-haven buying.

Q5: How can investors gain exposure to silver prices?
Investors can use physical bullion (bars, coins), silver-backed Exchange-Traded Funds (ETFs), futures and options contracts on commodities exchanges, or shares in silver mining companies. Each method carries different risk, liquidity, and storage considerations.

This post Silver Price Forecast: XAG/USD Holds Steady at $87.50 as Safe-Haven Demand Surges Amid Global Uncertainty first appeared on BitcoinWorld.

The GBPJPY pair approached the previously waited main target by reaching 207.30 level which forces it to form some bullish corrective waves, affected by stochastic rally above 50 level, which allows it to recover some losses to settle near 208.15.

Note that the negative stability below 209.15 level represents main factor to confirm the previously suggested negativity, therefore, we will keep waiting for gathering extra negative momentum to reinforce the chances of reaching 207.05, while surpassing the barrier and holding above it will ease the mission of achieving several gains by its rally towards 209.85 reaching 207.05. 

The expected trading range for today is between 207.05 and 208.75

Trend forecast: Bearish