In its monthly review on Jan. 28, UOB Bank maintained a neutral outlook for gold at an average of $1,800 per ounce through 2022.
Even though gold is down for 2021, Goldman Sachs is bullish on the year in its Jan. 26 report. The bank believes the price of gold will rise to $2,150 an ounce by the end of 2022.
Barclays on Monday, Jan. 24 raised its forecasts for the average price of oil by $5 a barrel for this year, aided by extremely limited inventories, reduced spare capacity and a relatively mild effect of the COVID-19 infection on demand.
The bank expects Brent to average $85 a barrel in 2022 and WTI to average $82 a barrel.
ABN AMRO has a negative scenario for gold in 2022 and 2023. The bank estimates the price will fall to $1,500 per ounce by the end of 2022 and to $1,300 by the end of 2023.
According to a research note to clients, Morgan Stanley raised its Brent oil price target to $100 per barrel by the third quarter of 2022 year.
Bank see the further drop of oil stockpiles by the end of the year and spare supply capacity shrink to 2 million barrels a day from the current 3.4 million.
Goldman Sachs forecasts Brent oil prices will reach $90 per barrel in the 1st Q of 2022, $95 in the 2ndQ and $100 per barrel by the end of the 2022 year. The main drivers for oil rally will be: lower than expected hit to demand; increased problems with supply.
Standard Chartered raised its 2022 Brent oil forecast by $8 to $75 a barrel and its 2023 forecast by $17 to $77.
In its Jan. 11 report, ING Bank updated its forecast for the average price of Brent oil for 2002 to $76 a barrel and to $75 for 2023. The quarterly forecast is as follows: Q1 - $78, Q2 - $74 and Q3 - $76.
Credit Suisse expects Brent crude prices in 2022 to average $75 per barrel, up from its prior $69 forecast, while West Texas Intermediate oil is expected to average US$72 per barrel, up from its $66 estimate.
Commerzbank forecasts Brent crude oil prices will fall to $70 a barrel due to significant oversupply in the first quarter of 2022, but then rise again to $75 level as higher demand will provide a reduction in oversupply and OPEC+ may reconsider its planned production expansion.
Commerzbank said in a note that Gold may be subdued in the first half of 2022 as the rate-hike cycle kicks off. In Bank forecasting gold at $1,900 at end-2022, about $200 lower than its previous outlook.
In a report released Dec. 9, analysts at Société Générale forecast that gold will trade at $1,900 an ounce in the 2nd quarter of 2022. The bank previously noted that it sees gold rising to $1,945 in Q1 2022.
Citi forecasts that gold price could reach $2000 per ounce in the next 12 -24 month. A slowdown of the global economy, recession fears and spreading coronavirus could boost gold demand as a safe-haven asset.
Morgan Stanley cut its oil forecasts for the second quarter for WTI from $52.5 to $30 and for Brent from $57.5 to $35.
Analysts from BMO rise gold forecast for 2d quarter to $1660 and to $1700 by the end of 2020.