One ounce of gold by the end of 2024 (31.1 grams) it will cost $2175 on the exchange. This forecast was given to socialbites.ca by Vasily Belokryletsky and Dmitry Kotegov, founders of the investment and analytics company Abeta Capital, commenting on the rise of gold prices to $ 2,128 per ounce on the Chicago Mercantile Exchange on Tuesday.
“The market may have the right conditions for another price increase. “Growth will be supported by the world’s central banks easing monetary policies, the largest gold mining companies reducing production volumes, and central banks’ continued active purchases of gold for reserves and insurance against geopolitical risks,” he said.
Belokryletsky said that no significant growth can be expected in the first half of 2024. At the last meeting, the US Federal Reserve kept the interest rate at the same level, depending on the current situation of the labor market and the level of inflation. The expert said that in February, gold moved mainly in the range of $2,000 to $2,050 per ounce.
“Current conflicts and upcoming elections in 60 countries around the world are driving investors to turn to gold as a safe haven asset. Kotegov concluded that the largest buyers in the third quarter of 2023 are China, Poland, Turkey and India.
Retail investors looking to capitalize on gold’s rise may want to consider a range of instruments, investment strategists say. For those with access to foreign exchange, physical gold or ETFs for gold mining companies or shares of gold mining companies, taking into account their non-market exposure, would be suitable. Investment strategists concluded that you can consider buying gold on the Russian market through a fund or on the stock exchange in a currency pair or through shares of individual gold miners.
At the end of 2023, Newmont, the world’s largest gold miner, produced 7% less gold compared to 2022, and Barrick Cold produced 2% less gold. In 2023, gold rose and hit an all-time high on December 4. Currently, prices have reached a historical maximum: 2152.3 dollars per ounce.
It was previously reported to be gold. continues Becoming popular among Russians.