Zerologic
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Gold price has now reached $2706 extending the previous day's gains. It seems that positive gold sentiment amidst geopolitical risks and also hopes of the Fed cutting interest rates has further confirmed the unstoppable rise in gold prices. However, sometimes profit-taking can cause prices to rebound and this requires caution.
Giant global banks predict that gold will extend its price rise and break records again until 2025, supported by the rapid inflow of investor funds in gold exchange-traded funds (ETFs) and additional cuts in interest rates by central banks around the world. Several of the world's top banks even project the price of the yellow metal to exceed US$3,000 next year.
Meanwhile, the action of buying up gold by the central bank is still significant in the London over-the-counter market, which could encourage a 66% increase in gold prices which is predicted to reach $2,900 in early 2025.
Giant global banks predict that gold will extend its price rise and break records again until 2025, supported by the rapid inflow of investor funds in gold exchange-traded funds (ETFs) and additional cuts in interest rates by central banks around the world. Several of the world's top banks even project the price of the yellow metal to exceed US$3,000 next year.
Meanwhile, the action of buying up gold by the central bank is still significant in the London over-the-counter market, which could encourage a 66% increase in gold prices which is predicted to reach $2,900 in early 2025.