Will the price of gold go down in the coming days or will it reach new record levels
Gold prices rose to a record level in late 2023 amid geopolitical conflicts and economic uncertainty. Will the demand for safe haven and American interest rate projections maintain gold subsidies in 2024? What are the gold price projections for the next five years? In this article we look at some of the latest gold analyses and gold price projections for 2024 and beyond from banks and experts
The immediate price of gold reached its highest level ever on 4 December, rising to $2141 per ounce before it fell below the August 2020 level, and technically, the rise could have been “paid for the orders to stop the loss
price of gold
But it was mainly supported, owing to the increasing expectations of lowering American interest rates earlier next year
Gold has a moderate performance
Gold made a moderate performance this year. The prices of instant gold (XAU/USD) and the ETF SPDR Gold Shares (GLD) have risen by more than 17% this year (taking into account the highest level for 2023). The weakening of the United States dollar and the decline in treasury bonds, combined with increased geopolitical uncertainty, will help to raise gold prices – and analysts do not expect it to stop there
Analysts on gold price projections said that gold prices were expected to reach new record levels and remain above $2,000 levels in 2024, pointing to geopolitical uncertainty, the potential weakness of the United States dollar and possible interest rate reductions
Gold price projections – basic observations
Gold price projections for the coming days: gold price projections for the coming days: gold prices may swing at their highest levels at $200, or until the highest levels of $2,000 are consistent for the remainder of 2023. Several important technical and fundamental factors (see sections below) are assembled to prepare the next penetration.
Gold price projections 2024:
Analysts expect gold prices to remain above the $2,000 level next year as the global rush towards gold continues. Gold price projections indicate new record levels and moderate gains