Gold price predictions have always captivated investors and economists alike. As we approach 2024, the global financial landscape continues to evolve, making the forecast for gold prices a topic of intense interest. The gold price today serves as a crucial indicator of economic health and investor sentiment, influencing decisions across various sectors.

Financial experts are closely analyzing market trends and economic factors to provide insights into potential gold price movements in 2024. Their predictions take into account historical patterns, current geopolitical tensions, inflation rates, and currency fluctuations. Understanding these projections can help investors and policymakers make informed decisions about their financial strategies in the coming year.

Historical Gold Price Trends

Gold Standard Era

The gold standard, a monetary system linking currency values directly to gold, played a crucial role in shaping historical gold price trends. In 1834, the United States fixed the price of gold at $20.67 per ounce, a value that remained constant for nearly a century [1] https://www.econlib.org/library/Enc/GoldStandard.html. This stability was mirrored in other nations, with Britain setting its price at £3 17 shillings and 10½ pence per ounce [2] https://www.investopedia.com/gold-price-history-highs-and-lows-7375273.

The period from 1880 to 1914, known as the classical gold standard era, saw widespread adoption of this system [1] https://www.econlib.org/library/Enc/GoldStandard.html. During this time, most developed nations linked their currencies to gold, creating a period of unprecedented economic growth and relatively free trade in goods, labor, and capital [1] https://www.econlib.org/library/Enc/GoldStandard.html.

Bretton Woods System

The outbreak of World War I disrupted the gold standard, leading to its temporary abandonment [1] https://www.econlib.org/library/Enc/GoldStandard.html. In the aftermath of World War II, a new international monetary system emerged from the Bretton Woods Conference in July 1944 [3] https://www.federalreservehistory.org/essays/bretton-woods-created. This system, designed by economists John Maynard Keynes and Harry Dexter White, established the International Monetary Fund (IMF) and what later became the World Bank Group [3] https://www.federalreservehistory.org/essays/bretton-woods-created.

Under the Bretton Woods system, which became fully functional in 1958, countries settled international balances in U.S. dollars, and the dollar was fixed to gold at $35 an ounce [3] https://www.federalreservehistory.org/essays/bretton-woods-created. This arrangement placed the United States at the center of the global financial system, with other currencies having fixed but adjustable exchange rates to the dollar [4] https://www.gold.org/history-gold/bretton-woods-system.
The Bretton Woods era saw rapid growth in the world economy, with Keynesian economic policies enabling governments to dampen economic fluctuations [4] https://www.gold.org/history-gold/bretton-woods-system. However, strains began to appear in the 1960s. Persistent global inflation, albeit at low levels, made the price of gold too low in real terms [4] https://www.gold.org/history-gold/bretton-woods-system. A chronic U.S. trade deficit drained U.S. gold reserves, creating tension within the system [4] https://www.gold.org/history-gold/bretton-woods-system.
Post-1971 Floating Exchange Rates
The Bretton Woods system faced increasing pressure in the late 1960s and early 1970s. On August 15, 1971, President Richard Nixon announced that the United States would end on-demand convertibility of the dollar into gold for central banks of other nations [4] https://www.gold.org/history-gold/bretton-woods-system. This decision, known as the “Nixon Shock,” effectively ended the Bretton Woods system and ushered in the era of floating exchange rates [5] https://history.state.gov/milestones/1969-1976/nixon-shock.
The abandonment of the gold standard had a significant impact on gold prices. Once unpegged from the dollar, the price of gold rose dramatically [2] https://www.investopedia.com/gold-price-history-highs-and-lows-7375273. This period coincided with the stagflation crisis in the United States, characterized by high inflation, low economic growth, and high unemployment [2] https://www.investopedia.com/gold-price-history-highs-and-lows-7375273. These factors contributed to a surge in gold prices during the 1970s, culminating in a record high of around $665 per ounce in January 1980 [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
The shift to floating exchange rates marked a fundamental change in the global monetary system. Countries moved to a fiat currency system, where the value of a currency isn’t pegged to a specific commodity or metal [7] https://www.reuters.com/markets/commodities/gold-nudges-higher-mounting-us-rate-cut-bets-2024-08-06/. This transition allowed for greater flexibility in monetary policy but also introduced more volatility in currency and gold markets.
In the decades following the end of the Bretton Woods system, gold prices have experienced significant fluctuations, influenced by factors such as economic conditions, geopolitical events, and changes in investor sentiment. The historical trends in gold prices reflect the metal’s enduring role as a store of value and a hedge against economic uncertainty, even as the global financial system has evolved beyond the constraints of the gold standard.
Key Factors Influencing Gold Prices in 2024
As investors and economists look ahead to 2024, several key factors are expected to shape the trajectory of gold prices. Understanding these influences is crucial for those seeking to navigate the complexities of the gold market and make informed investment decisions.
US Dollar Strength
The strength of the US dollar plays a significant role in determining gold prices. Typically, a stronger dollar makes gold more expensive for buyers using other currencies, which can lead to reduced demand and put downward pressure on gold prices [8] https://www.reuters.com/markets/commodities/gold-shines-geopolitical-tensions-offset-easing-us-rate-cut-bets-2024-04-18/. However, recent trends have shown that gold prices have reached new all-time highs despite a stronger US dollar [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. This unusual behavior highlights the complex interplay of factors affecting gold prices in the current economic landscape.
Inflation Expectations
Gold has long been viewed as a hedge against inflation, making inflation expectations a critical driver of gold prices. When investors anticipate rising inflation, they often turn to gold as a means to preserve their wealth, which can result in increased demand and higher prices [8] https://www.reuters.com/markets/commodities/gold-shines-geopolitical-tensions-offset-easing-us-rate-cut-bets-2024-04-18/. Recent data from the Federal Reserve Bank of New York’s Survey of Consumer Expectations provides insights into current inflation expectations:
• Median one-year-ahead inflation expectations remained steady at 3.0% in July 2023 [9] https://www.newyorkfed.org/newsevents/news/research/2024/20240812.
• Median five-year-ahead inflation expectations also held constant at 2.8% [9] https://www.newyorkfed.org/newsevents/news/research/2024/20240812.
• Interestingly, median three-year-ahead inflation expectations saw a sharp decline of 0.6 percentage points to 2.3%, reaching a series low since the survey’s inception in June 2013 [9] https://www.newyorkfed.org/newsevents/news/research/2024/20240812.
These figures suggest that while short-term inflation expectations remain elevated, longer-term expectations have moderated. This dynamic could have implications for gold prices as investors assess the potential need for inflation hedges.
Geopolitical Tensions
Geopolitical uncertainty and instability often drive investors towards gold as a safe-haven asset. The sensitivity of gold prices to global political dynamics contributes to its status as a reliable store of value during turbulent times [10] https://www.vaneck.com/us/en/blogs/gold-investing/gold-investing-outlook/. Recent geopolitical developments have had a notable impact on gold prices:
1. Heightened geopolitical risks have been a key driver pushing gold prices to all-time highs [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
2. The fraying geopolitical landscape has increased appetite for real assets, including gold [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
3. Economic and geopolitical uncertainty tend to be positive drivers for gold due to its safe-haven status [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
These factors have collectively contributed to the recent surge in gold prices, with the precious metal reaching a new nominal record of $2,331 per troy ounce in April 2024 [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
In addition to these primary factors, other elements are also influencing gold prices:
• Central Bank Buying: Record purchases by emerging market central banks, particularly China, India, and Turkey, have bolstered gold demand [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties. China’s central bank, for instance, extended its gold purchases for the 17th consecutive month in March 2024, setting a record for the longest reported streak of monthly purchases [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
• Federal Reserve Policy: Expectations that the Federal Reserve will begin lowering interest rates have contributed to the positive outlook for gold prices [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. Typically, lower interest rates increase gold’s attractiveness as it yields no interest.
• Global Economic Policies: Factors such as U.S. fiscal deficit concerns and central bank reserve diversification into gold have lifted prices to new all-time highs [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
As we move into 2024, these factors are expected to continue shaping the gold market. The World Bank projects that gold prices will be 8% higher in 2024 compared to 2023, supported by continued robust demand from emerging market and developing economy central banks, retail investment, and strong safe-haven demand [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties. Investors and analysts will need to closely monitor these key influences to anticipate potential movements in gold prices throughout the year.
Expert Predictions for Gold Prices in 2024
As investors and analysts look ahead to 2024, several prominent financial institutions have shared their forecasts for gold prices. These predictions take into account various factors, including geopolitical tensions, monetary policy shifts, and global economic conditions.
JP Morgan Forecast
JP Morgan has expressed a bullish outlook on gold for 2024. The bank’s analysts expect gold prices to climb to $2,500 per ounce by the end of the year [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. This prediction assumes that the Federal Reserve will begin a cutting cycle in November 2024, which is expected to push gold prices to new nominal highs [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
The bank’s optimism stems from several factors:
4. Geopolitical risks and downside risks for the dollar and interest rates [12] https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305.
5. Historical data showing that key interest rate cuts typically create a favorable scenario for gold, with potential returns of 20% to 30% [12] https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305.
6. Increased investor appetite in the physical gold market, which is expected to be a major contributor to the 2024 gold rally [12] https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305.
JP Morgan analysts note that the gold price surge has come earlier and has been sharper than expected, especially considering it has coincided with U.S. real yields moving higher due to stronger labor and inflation data [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. They project an average price of $2,500 per ounce in the fourth quarter of 2024 and $2,600 per ounce in 2025 [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices.
Goldman Sachs Outlook
Goldman Sachs shares a similarly optimistic view on gold prices for 2024. The bank initially anticipated a gold price close to $2,200 by the end of 2024 but recently raised its target to $2,500 [12] https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305. Their bullish stance is based on several key factors:
7. Strong central bank purchases, particularly from emerging markets and developing economies (EMDEs) [13] https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html.
8. Elevated geopolitical tensions driving safe-haven demand [13] https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html.
9. Robust retail demand in emerging markets, especially in countries like India and China [13] https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html.
Goldman Sachs analysts highlight that about 40% of participants at their Global Macro Conference in Hong Kong believed gold would rise above $2,200 per troy ounce by year-end [13] https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html. They also expect ETF holdings to climb once the Federal Reserve starts cutting rates, which their economists think could begin as early as May [13] https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html.
World Bank Projections
The World Bank’s outlook for gold prices in 2024 aligns with the positive sentiment expressed by JP Morgan and Goldman Sachs. Key points from their projections include:
10. The precious metals price index is expected to increase by 8% in 2024 compared to 2023 [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
11. Gold reached a new nominal record of $2,331 per troy ounce in April 2024 [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
12. Strong demand from EMDE central banks and increased activity in exchange-traded funds (ETFs) in China have supported recent price increases [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
The World Bank attributes the surge in gold prices to several factors:
• Record central bank buying, led by China, India, and Turkey [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
• Heightened geopolitical uncertainty driving safe-haven demand [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
• Robust retail investment, particularly in countries where gold jewelry serves as a quasi-investment [11] https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties.
It’s worth noting that while the overall outlook for gold prices in 2024 is positive, there are potential risks to consider. JP Morgan points out that the biggest bearish risk to their bullish gold view is a scenario where the Federal Reserve turns much more aggressive in ensuring inflation swiftly reaches its target [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. Additionally, the bank suggests that any retracement in the coming months could provide investors with an opportunity to begin positioning for a breakout rally commencing around mid-2024 [12] https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305.
Potential Drivers of Gold Price Increases
Central Bank Demand
Central bank demand has emerged as a significant driver of gold price increases. In recent years, central banks have been purchasing gold at record rates, with the People’s Bank of China leading the way [14] https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219. This trend has continued into 2024, with global official gold reserves increasing by 290 metric tons in the first quarter alone, marking the largest first-quarter increase since at least 2000 [15] https://www.investopedia.com/gold-shines-so-far-in-2024-as-central-banks-invest-heavily-8672711.
The World Gold Council reported that central banks purchased 1,037 tons of gold in 2023, with 2024 starting strongly with net purchases of 290 tons in the first quarter [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/. This increased demand from central banks is likely to drive gold prices higher in 2024. The National Bank of Poland and the Reserve Bank of India have been notable buyers, with the former adding 19 tons to its reserves in Q2 2023 and the latter continuing its gold buying streak [17] https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024/central-banks.
This surge in central bank gold purchases is driven by several factors:
13. A desire to rebalance to a more preferred strategic level of gold holdings
14. Domestic gold production
15. Financial market concerns, including higher crisis risks and rising inflation [15] https://www.investopedia.com/gold-shines-so-far-in-2024-as-central-banks-invest-heavily-8672711
Safe Haven Appeal
Gold’s status as a safe-haven asset continues to be a key driver of its price increases. During periods of economic uncertainty, investment demand for safe-haven assets typically drives gold prices higher [14] https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219. This was exemplified by the outbreak of the Israel-Hamas conflict in 2023, which added between 3% and 6% to gold’s overall performance that year [14] https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219.
The ongoing geopolitical tensions, particularly in the Middle East, are likely to keep gold prices elevated [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/. Historical data shows that gold has a strong correlation with geopolitical risk, making it a potential hedge against geopolitical shocks [14] https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219. As these tensions persist or escalate, investors are likely to seek safer investments, potentially leading to higher gold prices [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/.
Economic Uncertainty
Economic uncertainty plays a crucial role in driving gold price increases. The increasing demand for gold as a safe-haven asset and the potential for a global recession are significant factors behind positive gold price forecasts [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/. The ongoing cost-of-living crisis is also expected to play a role in gold’s price movement, as investors seeking safe-haven assets will likely turn to gold, pushing prices higher [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/.
The monetary policy of central banks, particularly the US Federal Reserve, has a significant impact on gold prices. The easing of monetary policy and the reduction of interest rates are expected to spur risk appetite among investors, potentially leading to higher gold prices [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/. J.P. Morgan Research expects gold to climb to $2,500 per ounce by the end of 2024, based on the assumption of a Fed cutting cycle commencing in November 2024 [16] https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/.
Furthermore, concerns about the US dollar’s global reserve status may contribute to gold’s appeal. Following Russia’s invasion of Ukraine and subsequent US sanctions, some have accused the US of “weaponising” the US dollar. This has led to speculation about countries diversifying away from the dollar, potentially benefiting gold prices [14] https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219.
In conclusion, the combination of strong central bank demand, gold’s safe-haven appeal during geopolitical uncertainties, and ongoing economic concerns are likely to be the primary drivers of gold price increases in the near future. As these factors continue to evolve, they are expected to support gold’s bullish trend and potentially push prices to new heights.
Risks to Gold Price Growth
While gold prices have shown remarkable strength in recent years, reaching new all-time highs in 2024, several factors could potentially hinder further growth. Investors and analysts must consider these risks when evaluating gold’s future performance.
Rising Interest Rates
One of the primary risks to gold price growth is the prospect of rising interest rates. When interest rates increase, it can make holding non-yielding assets like gold less attractive [18] https://www.reuters.com/markets/commodities/gold-prices-set-weekly-drop-with-focus-fed-cues-2024-08-09/. Investors may shift their focus to interest-bearing investments that offer potentially higher returns. This relationship between gold prices and interest rates has been a traditional driver of gold’s performance.
However, it’s worth noting that recent market trends have shown a significant decoupling of this relationship. Since early 2022, gold’s correlation with U.S. real yields has weakened considerably [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. Despite this, the possibility of rising interest rates remains a factor to watch, as it could still influence investor sentiment and potentially impact gold prices.
Economic Recovery
Another risk to gold price growth is the potential for a strong economic recovery. As the global economy rebounds from the COVID-19 pandemic, investors may shift their focus away from safe-haven assets like gold and towards riskier investments that offer the potential for higher returns [18] https://www.reuters.com/markets/commodities/gold-prices-set-weekly-drop-with-focus-fed-cues-2024-08-09/. This shift in investor sentiment could lead to reduced demand for gold, potentially putting downward pressure on prices.
However, it’s important to consider that the current economic landscape is complex. Factors such as ongoing geopolitical tensions, inflation concerns, and fiscal deficit worries continue to support gold’s appeal [6] https://www.jpmorgan.com/insights/global-research/commodities/gold-prices. Anthony Rousseau, head of brokerage solutions at TradeStation Group, notes that while there has been a pause in net global positive liquidity since April, which has stalled the upward movement of assets like gold, it’s unlikely that gold has peaked in 2024 [19] https://www.cbsnews.com/news/have-gold-prices-peaked-for-2024-heres-what-experts-say/.
Cryptocurrency Competition
The rise of cryptocurrencies, particularly Bitcoin, has posed a challenge to gold’s status as a safe-haven asset. Some investors see cryptocurrencies as a digital alternative to gold, which could potentially reduce demand for the physical metal [18] https://www.reuters.com/markets/commodities/gold-prices-set-weekly-drop-with-focus-fed-cues-2024-08-09/. This competition from the crypto market is a relatively new factor that gold investors need to consider.
However, opinions on this matter are divided. David Rosenberg, Chief Economist and Strategist for Rosenberg Research, argues in favor of gold, stating, “My vote would be for gold because it has thousands of years of a historical record as a store of value, has one-fifth the volatility of bitcoin, and doesn’t face the same competition risk” [20] https://watcher.guru/news/gold-crypto-the-ultimate-safe-haven-duo-for-2024.
On the other hand, Vitalik Buterin, Co-Founder of Ethereum, presents a case for cryptocurrencies, saying, “Crypto is a better bet than gold. Gold is inconvenient and difficult to use, whereas crypto offers safe storage options and ease of use in transactions” [20] https://watcher.guru/news/gold-crypto-the-ultimate-safe-haven-duo-for-2024.
Despite these risks, many experts remain optimistic about gold’s prospects. Alex Ebkarian, COO and co-founder at Allegiance Gold, points out that gold is a scarce commodity and very difficult to mine and produce, which makes it valuable given the high worldwide demand and limited supply [19] https://www.cbsnews.com/news/have-gold-prices-peaked-for-2024-heres-what-experts-say/. Patrick Kennedy, founding partner at AllSource Investments, adds, “We’re in an era of ballooning government debt with higher interest rates than we’ve experienced over the past decade, combined with heightened geopolitical tensions. Due to the economic uncertainty such an environment breeds, central banks have taken notice and are now steadily increasing allocations to gold, which should bode well for higher prices” [19] https://www.cbsnews.com/news/have-gold-prices-peaked-for-2024-heres-what-experts-say/.
Conclusion
The gold market in 2024 presents a complex landscape shaped by various factors. Central bank demand, geopolitical tensions, and economic uncertainties have an influence on gold prices, pushing them to new heights. At the same time, potential risks such as rising interest rates and competition from cryptocurrencies add layers of complexity to consider. These dynamics highlight gold’s enduring role as a safe-haven asset and a hedge against economic instability.
Looking ahead, the gold market’s trajectory remains subject to ongoing global events and economic shifts. While experts generally maintain a positive outlook, investors should stay alert to changing market conditions and potential risks. The interplay of these factors underscores the need to analyze the gold market carefully and to make informed decisions based on a comprehensive understanding of the global financial landscape.
FAQs
1. What are the expected gold prices for 2024?The World Bank projects that the average price of gold in 2024 will be approximately $1,950 per ounce. This prediction comes after estimating that the price will be around $1,900 in 2023, influenced by increased geopolitical risks that may enhance the appeal of safe-haven assets like gold.
2. What do analysts predict for the gold price in the near future?Forecasts from various analysts suggest that the gold price might peak at around $2,547. However, as 2024 progresses, they expect the price to decrease, with an average year-end forecast of $2,395, which is about 6.0% lower than the projected high for the year.
3. What are expert predictions for gold prices in the coming years?Financial expert Kiyosaki anticipates that gold prices will reach $3,700 by the end of 2024 and further increase to $5,000 by the end of 2025. His predictions are based on his analysis of economic trends and market cycles.
4. What is the long-term forecast for gold prices?Long-term forecasts suggest that the price of gold will continue to rise significantly in the coming years. It is expected to reach $2,500 by the end of 2024, $3,000 by the end of 2025, $3,500 by 2028, $4,000 by 2029, and $5,000 by 2032.
References
[1] – https://www.econlib.org/library/Enc/GoldStandard.html https://www.econlib.org/library/Enc/GoldStandard.html
[2] – https://www.investopedia.com/gold-price-history-highs-and-lows-7375273 https://www.investopedia.com/gold-price-history-highs-and-lows-7375273
[3] – https://www.federalreservehistory.org/essays/bretton-woods-created https://www.federalreservehistory.org/essays/bretton-woods-created
[4] – https://www.gold.org/history-gold/bretton-woods-system https://www.gold.org/history-gold/bretton-woods-system
[5] – https://history.state.gov/milestones/1969-1976/nixon-shock https://history.state.gov/milestones/1969-1976/nixon-shock
[6] – https://www.jpmorgan.com/insights/global-research/commodities/gold-prices https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
[7] – https://www.reuters.com/markets/commodities/gold-nudges-higher-mounting-us-rate-cut-bets-2024-08-06/ https://www.reuters.com/markets/commodities/gold-nudges-higher-mounting-us-rate-cut-bets-2024-08-06/
[8] – https://www.reuters.com/markets/commodities/gold-shines-geopolitical-tensions-offset-easing-us-rate-cut-bets-2024-04-18/ https://www.reuters.com/markets/commodities/gold-shines-geopolitical-tensions-offset-easing-us-rate-cut-bets-2024-04-18/
[9] – https://www.newyorkfed.org/newsevents/news/research/2024/20240812 https://www.newyorkfed.org/newsevents/news/research/2024/20240812
[10] – https://www.vaneck.com/us/en/blogs/gold-investing/gold-investing-outlook/ https://www.vaneck.com/us/en/blogs/gold-investing/gold-investing-outlook/
[11] – https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties https://blogs.worldbank.org/en/opendata/gold-shines-amid-geopolitical-uncertainties
[12] – https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305 https://goldbroker.com/news/jpmorgan-forecasts-gold-price-2500-dollars-3305
[13] – https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html https://www.goldmansachs.com/intelligence/pages/gold-prices-are-forecast-to-rise-six-percent.html
[14] – https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219 https://www.ig.com/en/news-and-trade-ideas/the-safe-haven-appeal-of-gold-amidst-rising-geopolitical-risks-i-240219
[15] – https://www.investopedia.com/gold-shines-so-far-in-2024-as-central-banks-invest-heavily-8672711 https://www.investopedia.com/gold-shines-so-far-in-2024-as-central-banks-invest-heavily-8672711
[16] – https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/ https://skilling.com/blog/commodities-trading/gold-price-forecast-2024/
[17] – https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024/central-banks https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024/central-banks
[18] – https://www.reuters.com/markets/commodities/gold-prices-set-weekly-drop-with-focus-fed-cues-2024-08-09/ https://www.reuters.com/markets/commodities/gold-prices-set-weekly-drop-with-focus-fed-cues-2024-08-09/
[19] – https://www.cbsnews.com/news/have-gold-prices-peaked-for-2024-heres-what-experts-say/ https://www.cbsnews.com/news/have-gold-prices-peaked-for-2024-heres-what-experts-say/
[20] – https://watcher.guru/news/gold-crypto-the-ultimate-safe-haven-duo-for-2024 https://watcher.guru/news/gold-crypto-the-ultimate-safe-haven-duo-for-2024