Gold Prices Have Been Hitting Record Highs — Here’s Why the Rally Is Far From Over Gold’s remarkable rally has propelled its prices to record highs, with the potential to climb even higher, potentially reaching $2,300 per ounce in the latter half of 2024. This optimistic outlook is buoyed by expectations of rate cuts by the U.S. Federal Reserve, according to Aakash Doshi of Citi. Currently, gold is trading at $2,203. The precious metal often becomes more attractive when interest rates fall, as it competes favorably against fixed-income assets like bonds, which offer diminished returns in a low-rate environment. Moreover, central banks’ record bullion purchases and significant futures buying, as noted by Macquarie, have played a critical role in driving gold prices upward, suggesting that the rally is far from reaching its peak. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Zimbabwe's New Gold-Backed Currency Marks Promising Start READ MORE Gold Holds Steady Near $2,300 as Markets Await Crucial Inflation Data READ MORE Yield Curve's Predictive Power in Question as Economic Growth Continues READ MORE Commodities Cool Off Ahead of Key Economic Data READ MORE Fed's Anticipated Rate Cuts Stir Major Buzz at Davos 2024 READ MORE Add a Comment Cancel replyYour email address will not be published.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