World market forecast positive due to high demand for gold

4 hari lalu

The world gold price jumped by another $7 to $2,647 an ounce. According to market analyst Fawad Razaqzada of City Index, gold still faces many challenges in the short term, such as the strength of the greenback, rising bond yields, and weak demand from the Asian market. However, despite those challenges, the gold price target of $3,000 an ounce is still feasible. Any correction or consolidation in early 2025 could set the stage for another rally in the second half of the year.

Ms. Nicky Shiels, Head of Metals Research and Strategy at MKS PAMP, expects gold prices to trade in a fairly wide range of $2,500 to $3,200 an ounce, with the precious metal largely dependent on the US Federal Reserve's (Fed) interest rate changes related to inflation.

For now, investors still believe that a stronger US dollar and tighter monetary policy could create some headwinds for gold. However, gold remains an important asset in investors' portfolios this year. The trend of de-dollarization by central banks, complex and unpredictable geopolitics, global debt and investor demand... will ensure that gold is a safe asset diversification tool.

4 hari lalu

Dagangan aktif

58% expect gold prices to trade above $3,000/ounce, 22% predict gold prices will trade between $2,800-3,000/ounce, 7% choose gold prices between $2,600-2,800/ounce, 13% believe gold prices will fall back to $2,400-2,600/ounce.

4 hari lalu

Dagangan ditutup: sasaran tercapai

3 hari lalu

Nota

After rising 27% in 2024, Goldman Sachs recently dropped its forecast for gold to reach $3,000 an ounce by the end of 2025, instead forecasting 2026 due to expectations that the US Federal Reserve will cut interest rates less.