On the 7th, the World ** Association released the "2024 ** Outlook Report". According to the report, the international gold price will perform strongly in 2023In 2024, multiple factors such as geopolitics will also support international gold prices.
The World Association said in the "2024 Outlook Report" that since the beginning of this year, the international gold price has performed strongly in a high interest rate environment, exceeding expectations, outperforming commodities, bonds and most ** markets. This week, the international gold price has fluctuated sharply. New York*** retreated after rising above the $2,100 per ounce mark on the 4th, and is now stabilizing near $2,030 an ounce. Since the beginning of this year, the international gold price has been about 10%. Experts believe that the market's expectation of the Fed's monetary policy shift is one of the main factors in this round of gold prices.
According to the World Association's Global Demand Trends Report, central bank purchases in the first three quarters of this year rose 14% year-on-year to a record 800t. Looking forward to 2024, the World Association believes that the possible intensification of geopolitical conflicts in some regions and the increase in purchases by many central banks will support the future trend of international gold prices.
U.S. Vanda Group** and *** Manager Ima Casanova: International gold prices are supported by the expectation that the Federal Reserve may soon start cutting interest rates, and the current market ** has a more than 50% probability that the Fed will start cutting interest rates in March 2024. As global geopolitical risks continue to intensify, safe-haven buying is also likely to benefit.
*: CCTV Finance & Economics.