Gold Poised for Stellar Rise Amid Central Bank Buying and Fed Rate Cuts Central banks’ increasing interest in gold, alongside anticipated Federal Reserve rate cuts, are fueling expectations for a renewed gold bull run. The combination of strong physical demand, substantial official sector purchases, and the Federal Reserve’s dovish stance is predicted to push gold prices to an average of $2,250 per ounce in the next quarter and maintain an annual average of $2,113 per ounce for 2024. With traders and investors currently under-positioned in gold, the expected reduction in interest rates could boost speculative interest and ETF demand, potentially driving prices to exceed $2,300 in the coming six months. Moreover, factors such as central banks’ record gold purchases, the desire to hedge against inflation and default risks, and geopolitical tensions are likely to support and even amplify the price rally. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Central Banks Turn to Gold as Hedge Against U.S. Dollar Dominance READ MORE Will the Fed Cut Rates? READ MORE Jobs Report Shakes Up Fed Rate Cut Expectations, Bolsters Dollar READ MORE BloxCross CEO Keith Bliss Favors Copper in Commodities Showdown READ MORE US Crude Oil Holds Strong Above $80 Despite Mixed Data READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment