Gold has risen in price by around 12% since the beginning of the year. Strategists at Commerzbank analyze the yellow metal’s for 2024.
Gold price under the spell of interest rate expectations
The upcoming interest rate cuts speak in favor of gold, which is why we foresee a further price increase to $2,150 in the second half of next year.
Investment demand is also likely to pick up again with the interest rate cuts by the Fed that are on the horizon and should materialize.
Source: https://www.fxstreet.com/news/gold-price-forecast-xau-usd-to-reach-2-150-in-the-second-half-of-next-year-commerzbank-202312151244