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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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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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