15 Hrs
Source:
Sky News
Gold Amid Correction and Recovery
Gold prices are experiencing significant fluctuations amid divergent forecasts from major banks. Some anticipate the price to fall below $4,000 an ounce by the end of the year, while others expect it to remain around $4,500. It is also projected to rise again to approximately $5,000 next year, driven by central bank purchases and geopolitical tensions. Experts believe that the ongoing rise in inflation and the increase in U.S. interest rates could put downward pressure on gold prices, especially if they fall below the $4,000 level. Additionally, rising treasury yields and liquidity withdrawals by central banks, such as Russia, may further intensify selling pressure on the yellow metal. In the long term, gold prices are expected to rebound above $5,000, with potential to reach $6,000 if inflation continues to escalate. Meanwhile, gradual purchasing strategies and increasing diversification in investment portfolios are considered suitable options for investors.
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