The jury is still out on whether gold prices will continue in 2024. There are many factors that affect the price of gold, including:
The Federal Reserve's monetary policyIf the Fed continues to raise interest rates, the dollar will strengthen and gold prices will be suppressed. But if the Fed cuts interest rates, the dollar will weaken and gold prices will be supported.
The global economic situation: If there is a global recession, investors will look for safe-haven assets and gold prices will **. But if the global economy is strong, investors will prefer risky assets and gold prices will**.
Geopolitical risks: If geopolitical risks intensify, investors will look for safe-haven assets and gold prices will **.
Central bank gold purchase demandIf central banks continue to increase their holdings**, gold prices will be supported.
According to the current parties**, the gold price in 2024 may show the following trends:
In the short term, gold prices are likely to continue**。The Fed is expected to start cutting interest rates in mid-2024, the dollar will weaken and gold prices will be supported. In addition, geopolitical risks remain and will also support gold prices.
In the medium to long term, gold prices are likely to retreat。As the global economy gradually recovers, investors will prefer risky assets, and gold prices will come under pressure.
Specifically,
JPMorgan Chase**, the gold price will fluctuate between $1,900-$2,100 ounces in 2024.
World ** Association**, gold prices will fluctuate between $1,800-$2,000 ounces in 2024.
HSBC**, the gold price in 2024 will be $1947 per ounce.
Overall, there is still room for gold prices in 2024, but investors also need to be cautious about investment risks.
Here are some investment tips:
Don't blindly chase the ups and downs, you should make investment decisions based on your own situation.
Be prepared to invest for the long termDon't expect a windfall profit in the short term.
Diversify your investment, don't put all your money into the market.
Here's some information to refer to**:
World ** Association
U.S. Commodity Exchange Commission
International Monetary Organization**