Reported over 1 year ago
According to Taiwan Bank, the international gold price has been hovering around $2,300 per ounce due to two factors. Despite the lack of high buying interest from investors, the gold price is expected to remain stable around $2,300, supported by recent dips being held above this level and the Federal Reserve's signal of a 4-point rate cut in 2025. With the market awaiting the Fed officials' remarks, gold prices are currently fluctuating between $2,318 and $2,322, ending at $2,318.87. Although there may be short-term fluctuations, the long-term outlook for gold remains positive due to strong global demand, central bank purchases, and geopolitical tensions. Citibank anticipates a possible challenge to historical highs by the end of 2024 as the U.S. economy enters a recession in the second half of next year, leading to lower yields and higher gold prices.
Source: YAHOO