Gold Cracks $4,500: Iran-Fed Double Whammy Sends Bullion into Bearish Freefall Toward $4,000 
Fitch Cuts Global Growth Outlook for 2026 as Oil Shock From U.S.-Iran Conflict Weighs on Economy 
Gold Tumbles Below $4,400 on NFP Shock: Fed Easing Bets Crater, Sell on Rallies to $4,300 
Goldman Sachs Sees Fed Holding Interest Rates Steady Until 2027 
Latest survey by prominent newspaper Wall Street journal shows that most of the invest banks are expecting oil to stay below most parts of 2016.
- Investment bank Goldman Sachs is the most bearish among bankers, which is expecting price to rise slowly through 2016 but remain below $50.
- On the other hand BNP Paribas and ING bank are most bullish among bankers. BNP expects price to reach $60/barrel by second quarter of 2016, while ING is expecting price to reach $70/barrel by fourth quarter of 2016.
- Standard Chartered and Barclays expect prices to rise relatively faster after second quarter to trade around $70/barrel.
One thing can be read from the survey that no investment banks are expecting prices to dip below $40/barrel next year and none is expecting much deterioration from here even in this year.
Kindly note that Goldman has indicated that price might go as low as $20/barrel in certain scenario but that is not their base case.
WTI is currently trading at $46.8/barrel and Brent at $2.6/barrel premium.
