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Gold prices seen to climb further in 2024 amid geopolitical uncertainty, possible rate cuts
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It is estimated that demand for gold from central banks contributed at least 10 per cent to gold’s performance in 2023.
ST PHOTO: LIM YAOHUI
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SINGAPORE - Gold prices are expected to hit record highs by the end of 2024 amid political and macroeconomic developments.
Analysts told The Straits Times that the yellow metal, currently trading at above US$2,300 per ounce, is projected to remain stable in the near term before rising to between US$2,400 and US$2,500 in the second half of 2024, driven by potential rate cuts by the US Federal Reserve and upcoming elections in the United States and Europe.
