Gold to Hit $2200 in 2024, Wells Fargo Joins Bullish Forecast

Wells Fargo has added its voice to the chorus of experts forecasting a dramatic rise in gold prices, anticipating the precious metal to reach $2200 by 2024. This bullish prediction comes amidst a period of remarkable volatility and recent gains in the gold market. A significant factor influencing this upward trajectory is the anticipated series of interest rate cuts by the Federal Reserve in the upcoming year, a move that is expected to bolster gold’s performance. The metal has already showcased its strength, having soared to an all-time high earlier in the month and briefly surpassing $2093, before settling at $2077. This forecast from Wells Fargo aligns with a growing consensus among financial analysts who see gold maintaining its momentum as one of the top investment assets, especially with the looming rate cuts by the Federal Reserve.