January 7 news: JP Morgan pointed out in a report on Friday that both base metals and precious metals will benefit from the decline in the US dollar in the previous quarter from 2005. However, in the second half of 2005, as interest rates adjusted to stabilize the U.S. dollar, both basic and precious metals prices are expected to fall. Compared to base metals, JP Morgan is more optimistic about the price outlook for precious metals. JP Morgan believes that the base metal prices in 2004 were higher than the prices of other global commodities, but this era is over. The recent rise in the price of gold indicates that US inflation will increase in the future in 2005. JP Morgan pointed out that during Greenspan's term, Greenspan often used gold as a more useful indicator of inflation expectations. If this is true, the fact that the price of gold has risen to a high level in 16 years suggests that the increase in inflation may eventually make the Fed more active in raising interest rates. The table below shows JP Morgan's expectations for 2005 metal prices in US dollars per ounce in the quarter before Q2 Q3 Q4 gold 430 Silver 6.80 6.65 6.50 6.45 Platinum 740 Palladium 295 Copper 113 Aluminum 82.5 84.0 83.5 82.0 Zinc 50.0 51.5 51.5 51.0 Nickel 575
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