From Slump to Surge: Some Expect Gold to Bounce Back
Despite a recent decline in gold and silver prices, some industry experts believe that these precious metals will experience a bullish trend in the near future. Here are the key points to consider:
- Gold and silver prices have dropped since their peak in August 2020.
- The World Gold Council’s report highlights that gold demand has dipped slightly but remains strong overall.
- TD Securities’ Bart Melek predicts that gold could rise above $2,100 in late 2023 or early 2024 due to the U.S. Federal Reserve’s actions.
- David Neuhauser of Livermore Partners foresees gold reaching $2,500 by the end of 2024, citing potential recessionary forces.
- ANZ research predicts that gold could be trading at $2,100 by the end of 2023 and near $2,200 by September 2024.
While these projections offer hope for a rebound in gold prices, it’s important to remember that market conditions can change. Investors should closely monitor the factors that may impact the precious metals market.
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