gold investing

The 2024 gold analysts’ projections: gold analysis from the experts’ point of view? 

The 2024 gold analysts’ projections: gold analysis from the experts’ point of view? 

Many sources and experts present gold and gold price projections for 2024 based on different models, methodologies, and assumptions. Despite moderate performance in 2023. Many investment banks maintain high gold price forecasts for 2024 and the next five years. However, central banks continue to strengthen their gold reserves, highlighting the permanent attraction of precious metals. In the following sections, we will discuss gold and price projections from some of the most famous and influential sources and experts:

  • The World Bank expects an average gold price of $1.950 per ounce in 2024.

  • The International Monetary Fund (IMF) projected an average gold price of $1.775 per ounce in 2024.

  • Goldman Sachs Bank expects an average gold price of $2.133 per ounce in 2024.

  • J.B. Morgan Chase expects the price of gold to reach $2,175 per ounce in 2024.

  • ABN AMRO expects an average gold price of $2,000 per ounce in 2024.

  • Citigroup raised its 2024 projections of average gold prices to $2,040 per ounce.

  • UBS reduced its gold price forecast in mid-2024 to $2,200 from $1.950 per ounce.

The Coverts Bank expects the gold to surpass its highest level ever at $2,075 per ounce in 2024.

Ing Bank expects gold prices to rise in 2024.

TD Securities expects average gold prices to reach $2,100 in the first half of 2024.

UOB predicted that the price of gold would reach new record levels in 2024.

World Bank gold price projections 2024

The World Bank is a powerful force for good in our world. By providing loans and grants to developing countries, this global financial institution is helping to fund crucial projects that have the potential to transform entire communities. From infrastructure improvements to education and healthcare initiatives, the World Bank’s support is making a real difference in the lives of people around the globe. Join the fight to build a better world by supporting the World Bank today., recently projected an average gold price of $1.950 per ounce in 2024, a decrease from $1.900 per ounce to 2023 projections. The updated gold price projections for 2,024 were based on assumptions. The Middle East conflict would lead to increased global uncertainty. It would add momentum to gold prices if the dispute escalated. “Though the initial impact has been moderate, its escalation could exacerbate this uncertainty, reducing risk willingness and low confidence among consumers and investors. These developments can lead to a sharp rise in gold prices.

According to the World Bank, “prices are expected to remain high but gradually fall to an average of $1830 per ounce in 2025.”

IMF Gold Projections 2024

The International Monetary Fund (IMF) is a global organization with the aim of promoting financial stability, economic cooperation, and sustained growth. The IMF projects that the average price of gold will be $1,775 per ounce in 2024, which is slightly lower than the projected price of $1,800 per ounce in 2023. The 2024 price projections are based on various factors such as global economic activity, inflation projections, and financial market conditions.

We are still awaiting updated projections of the 2024 gold price from the International Monetary Fund.

Goldman Sachs gold price projections for 2024.

Goldman Sachs, a leading global company in investment banking, securities, and investment management, has a positive view of yellow metal in 2024 and expects an average gold price of $2.133 per ounce. The company’s analysts believe that gold will be traded above market consensus in the short term, primarily because of its standing as a haven and the market’s “fear factor.” This fear factor has been fuelled by growing uncertainties, including concerns about banking and finance and the increased likelihood of stagnation in the United States in 2024. Goldman Sachs also cites the impact of wealth, which significantly increases income and savings in emerging markets such as China and India. As a support factor for gold prices.

J.B. Morgan’s 2024 gold price projections

According to JP Morgan, the average price of gold will be $2,012 by 2024, reaching $2.175 per ounce by the last quarter of the year. This is higher than the price of $1.915 recorded on August 9, 2023. J.B. Morgan expects the Fed to fully reflect its policy of tightening interest rates very shortly and begin to lower interest rates by the second quarter of 2024, where low returns are considered an “important engine” of gold. Possession of gold in a low-priced environment forces you to abandon the high income it may earn from other investments in a high-yield environment. Thus, funds tend to flow back into gold, as JP Morgan expects during the next 12 to 18 months.

2024 gold price projections

ABN AMRO, a Dutch bank that provides various banking and financial services to retailers, the private sector, and companies, has an average gold price forecast of $2,000 per ounce in 2024, down from $2,200 per ounce. This 2024 gold price forecast is based on its forecast of a rise in the United States dollar, high accurate interest rates, low inflationary pressures, and weak investor demand for gold.

The 2024 gold price projections from Citigroup.

Citigroup adjusted its 2024 projections for the average price of gold and increased it to $2,040 per ounce. The financial institution sees this as an opportunity to “buy with the drop,” especially as American inflation data show signs of decline. The roots of this most positive art view of the gold market are to be expected.

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