Deutsche Bank raises 2026 copper price forecast amid supply squeeze

Deutsche Bank has analyzed the upcoming U.K. Autumn Budget, which is set to be unveiled by Chancellor Rachel Reeves on November 26, 2025. This budget is anticipated to include significant tax-raising measures and spending cuts, following extensive consultations with bond-market investors and Labour backbenchers.

Deutsche Bank has set a new target for gold prices in 2026, reflecting its analysis of market conditions and investor sentiment towards gold as a safe-haven asset amid economic uncertainties.

UBS has indicated a structural bull case is developing in the copper market, suggesting positive long-term trends for copper prices driven by demand and supply dynamics. This analysis reflects UBS's ongoing assessment of market conditions and economic indicators.

Chancellor Rachel Reeves is set to deliver her budget speech, which will be closely monitored by influential traders and financial institutions, including a custom AI tool at Deutsche Bank designed to analyze her statements in real-time. This budget is particularly significant as it comes amid economic pressures and expectations of policy shifts.

Deutsche Bank has projected a 6% decline in the value of the U.S. dollar by the end of 2026, citing concerns over the federal budget deficit that has recently underperformed forecasts.