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 Chinese Gold Appetite Wanes as Prices Soar and Economy Slows READ MORE Wall Street Weighs Impact of Biden-Trump Rematch on Financial Markets READ MORE Options Markets Signal Investor Unease Ahead of Pivotal Economic Week READ MORE Growing Credit Card Debt: A Warning Sign for Investors READ MORE Insider Alert: Mike’s Made a Change in His Portfolio READ MORE Add a Comment Cancel replyYour email address will not be published.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