Berkshire Hathaway to Buy Occidental's -2-

0735 GMT - Upside risks to Goldman Sachs' 2026 gold-price forecasts have intensified further owing to two reasons, three members of GS' Commodities Research team say in a note. One is speculative positioning, the source of volatility around the fair value anchored by slower-moving ETFs and central banks, the members say. The other is the "large upside surprise to Western ETF holdings in September beyond what our model based on falling U.S. interest rates predicts," the members say. This suggests that key upside risk to GS' gold-price forecasts, which the members have been flagging, appears to be realizing for now. GS forecasts gold at $4,000/oz for mid-2026 and $4,300/oz for December 2026. Spot gold is little changed at $3,866.52/oz. (ronnie.harui@wsj.com)

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Comex Gold Futures' Bull Run Shows No Signs of Fatigue -- Market Talk

0655 GMT - Comex gold futures' bull run shows no signs of fatigue yet, based on the daily chart, according to RHB Retail Research's Joseph Chai. The precious metal is experiencing bullish momentum, hitting a "higher high" and "higher low," the analyst says in a report. While the relative strength index is in overbought territory, the commodity's price action, along with the latest bullish candlestick pattern, shows that gold bulls remain in control, Chai says. Gold is likely to break above the $4,000/oz resistance level. If profit-taking occurs, futures could find support near the 20-day simple moving average, he adds. Spot gold is little changed at $3,866.71/oz, ICE data show. (ronnie.harui@wsj.com)

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Palm Oil Rises, Tracks Higher Soybean Oil -- Market Talk

0237 GMT - Palm oil prices rise in early Asian trade, tracking stronger soybean oil on the Chicago Board of Trade, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Recent strong export performance is also seen to be supporting market sentiment. Malaysia's palm oil exports for Sept. 1-30 are estimated to have risen 7.3% from a month earlier, according to cargo surveyor AmSpec Agri Malaysia. Ng sees support for crude palm oil futures at 4,400 ringgit a ton and resistance at 4,550 ringgit a ton. The Bursa Malaysia Derivatives December contract is 36 ringgit higher at 4,424 ringgit a ton. (yingxian.wong@wsj.com)

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Gold Looks Overdue for a Pullback -- Market Talk

0116 GMT - The Supreme Court's decision to block President Trump from removing Federal Reserve governor Lisa Cook until January potentially eases concerns over the Fed's independence and the prospect of another dovish appointment to the board, says Tony Sycamore, market analyst at IG Markets. For now, this removes two key factors that had supported gold's run toward $3,900 per ounce, he adds. Gold has pulled back to around $3,865, retreating from a fresh high of $3,895. The pullback follows a $584 rally, or over 17%, from Aug. 20, he says. (james.glynn@wsj.com; X @JamesGlynnWSJ)

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Oil Rises on Likely Technical Recovery

0009 GMT - Oil rises in the early morning Asian session on a likely technical recovery. Crude oil futures finished 1% lower at $61.78/bbl overnight, the lowest level since late May. However, there are worries over increasing oil surplus and softening demand, ANZ Research analysts say in a research report. EIA data released Wednesday showed commercial crude oil stocks excluding those in the Strategic Petroleum Reserve rose by 1.8 million barrels in the week ended Sept. 26, more than expected by analysts surveyed by the WSJ. Front-month WTI crude oil futures are 0.7% higher at $62.21/bbl; front-month Brent crude oil futures are 0.7% higher at $65.83/bbl. (ronnie.harui@wsj.com)

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

October 02, 2025 10:27 ET (14:27 GMT)