Gold Could Reach All-Time Highs Next Year
Gold Could Reach All-Time Highs Next Year
Updated October 17, 2023 at 4:19 a.m. ET
08:12 GMT – Gold prices could reach an all-time high in 2024, supported by the possibility of a weaker dollar combined with rate cuts from the Federal Reserve, according to John Reade, chief market strategist at World Gold Council. “When the Fed starts reducing reserves, gold will do well,” Reade said during a panel discussion at the LBMA Global Precious Metals Conference in Barcelona. “If the dollar is weak, gold will do very well,” Reade says, adding that gold prices are currently high and any rise would come from a high base helping to support the precious metal. Gold futures are currently trading 0.1% lower at $1,932.50 per troy ounce. (yusuf.khan@wsj.com)
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