4 December 2023
Gold prices reached a record high of $2,100 per ounce, driven by geopolitical tensions, expectations of U.S. interest rate cuts, and a potential weaker dollar. Analysts anticipate gold maintaining above $2,000, possibly reaching $2,200 by end of 2024. The demand for gold, seen as a safe-haven asset, is bolstered by factors like the Israel-Palestinian conflict and central banks’ interest in gold. A forecasted shift in Fed policy in 2024 could further increase gold’s attractiveness.