Analytics

As we delve into the projections for gold in 2024, it's evident that various experts – both humans and AI – present both shared insights and distinct perspectives, creating a rich tapestry of expectations.

As we bid farewell to 2023, gold's remarkable ascent deserves scrutiny. The metal surged by a substantial 15%, culminating in an unprecedented annual close at $2,078 per ounce, a testament to its enduring allure as a safe-haven asset. Beyond the glittering numbers, nuanced trends in consumer behavior and central bank activities reveal the multifaceted dynamics shaping the gold market.

As we step into 2024, the prospects for gold appear promising, building upon the robust performance witnessed in the preceding year – the growth from $1,843 to $2,078. Analysts, including Saxo Bank's Ole Hansen, anticipate a continuation of the upward trajectory in gold prices, attributing this bullish outlook to a combination of factors.

Momentum from Hedge Funds: Momentum-chasing…

In the wake of the Federal Reserve’s recent decisions, the economic landscape is undergoing intriguing shifts. In this article, we'll unravel the complexities influencing the US dollar, scrutinize the technical terrain, and delve into the surging interest in gold from both institutional and individual perspectives.

Gold is experiencing a notable surge in institutional demand, driven by a confluence of factors including falling real rates, a weakened dollar, and heightened geopolitical risks.

This is stated by analysts from Bank of America. In their opinion, now the gold rate does not demonstrate sustainable growth due to the tightening of monetary policy by the Fed.

Finance Feeds believes that precious metal quotes may go into growth over the next year due to two factors: geopolitical instability and monetary policy of leading central banks.

The Swiss bank UBS believes that precious metal quotes will jump to $1,900 per ounce by 2024, and the British consulting company Capital Economics shows a mark of $1,700 per ounce. Why are the numbers so different? Let's deal with the arguments.

This was announced by the Institute of Silver. The cumulative growth indicator will be, according to estimates, 16% compared to 2021. Demand volume will be a record 1.21 billion ounces. At the same time, 329 million ounces of physical silver investment products are expected to be purchased over the year. This is 18% higher than last year.

This is evidenced by the data for the 3rd quarter of 2022, which were published by the World Gold Council. The volume of global demand for gold investment ingots and coins exceeded 350 tons, which is a one and a half year high.