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Gold Shines as Weak Retail Sales Lift Rate-Cut Bets: 3 Winners [Yahoo! Finance Canada]
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However, gold prices gained momentum and settled above $2000 an ounce in 2023 amid geopolitical and recession anxieties. In 2024, gold prices are expected to remain bullish as several banks continue to raise apprehension throughout the stock market. Meanwhile, the crypto market remains dicey, with FTX being the primary culprit. At the same time, central banks' interest in acquiring gold and an increase in consumption demand will surely jack up the price of the bullion metal this year and beyond. Several market participants are now projecting gold prices to surge well over $3,000 an ounce by 2025. Gold prices, in reality, were off to a commendable start this year and are currently above the $2,330 per ounce mark. This means that gold prices are holding above the support level, and are looking to enter another growth phase. ADVERTISEMENT And why not? Gold prices are well-poised to pick up steam as moribund consumer spending activity in the United States has fueled hope that th
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