Gold prices surpassed US$1,900 per ounce in early June—the highest since January 2021—driven by jewelry demand in China, investment inflows, and lower real interest rates. Chinese holiday- and wedding-related jewelry purchases provided support for gold prices, but this was offset by muted Indian demand due to surging COVID-19 infections. Gold-backed exchange-traded funds (ETFs) registered inflows in May, after three consecutive months of outflows.

The price of gold has soared to new heights this year and is positioned to climb into early 2025, rising to new record highs, according to Goldman Sachs Research. For recent University of Cincinnati graduates Bowen and Finn Alexy, the term has more to do with precious metal refining, alloy brazing and the intricacies of running a business. This growing demand for green infrastructure, driven by government initiatives and environmental concerns, is a significant factor propelling silver’s industrial demand upward.

That record was quickly surpassed by subsequent peaks in April, May, August, and most recently, on September 16, when the price climbed to above $2,584 per ounce. With the latest milestone, gold is up by an astounding 25% since the start of Which best describes the difference between preferred and common stocks the year. We’ve compiled silver price predictions from numerous analysts, both inside and outside the precious metals industry.

Free Gold-Eagle Newsletter!

Gold prices rose slightly in October and November, after a marginal decline in the third quarter of 2021, supported by lower real interest rates. Gold prices have lost strength in the second half of the year, driven by outflows in gold-backed ETFs from North American investors and slowing central bank purchases. Treasury securities fell to -1.06 percent in November, as a rise in inflation expectations outweighed slight increases in nominal interest rates. Looking forward, the uncertainty over the Omicron COVID variant could push gold prices higher due to safe-haven demand. A tightening of monetary policy, however, could result in higher real interest rates and reduce the appeal of gold.

A multitude of factors are aligning for a silver supercycle – The Silver Institute

Over the last couple of years, central banks across the globe have dramatically increased their gold holdings. This shift in central bank behavior has altered the traditional dynamic between gold prices and interest rates, potentially providing a more robust floor for gold prices even as rates fluctuate. Platinum and palladium prices have fallen sharply since early May, driven by the slump in vehicle production. The shortage of semiconductors has hampered global vehicle production, in turn causing a sharp decline in autocatalyst demand. Autocatalysts account for one-third and four-fifths of platinum and palladium demand, respectively. Both metals are used in catalytic converters of car engines to reduce emissions.

Shanghai Gold Benchmark Price

Gold is nearing our $2,800 target, with the potential for further gains into year-end. Historically, during the last two Fed rate-cutting cycles, gold surged approximately 40% following the initial cut. Last week, I wrote Gold Could Collapse or Challenge $3000 in November.

1. Last week’s larger-than-usual half-point cut by the Federal Reserve signals a new focus on slowing employment numbers, and more rate cuts are expected before the end of the year.
2. Gold-backed exchange-traded funds (ETFs) registered inflows in May, after three consecutive months of outflows.
3. While gold can offer portfolio diversification and potential protection against economic downturns, it does not generate income like dividend-paying stocks or interest-bearing bonds.
4. Others believe that potential supply disruptions could help maintain or boost the price.
5. That record was quickly surpassed by subsequent peaks in April, May, August, and most recently, on September 16, when the price climbed to above $2,584 per ounce.

Historically, however, the price of gold is not tied to the fluctuations of stock and bonds. This is one of the chief reasons when one should have gold in their portfolio – to protect the long-term value of your investments. After all, gold has historically served as a hedge against inflation, currency devaluation and economic uncertainty. And with the Federal Reserve poised to cut interest rates and global economic uncertainties persisting, gold’s appeal as a safe-haven asset may increase. So if you’re concerned about potential market volatility or want to diversify your portfolio, allocating a portion of your investments to gold could provide a measure of stability and protection. There are a 15 minute scalping strategy few different drivers behind these expectations, one of which is the unprecedented level of central bank demand for gold.

Some analysts predict prices could continue to rise, citing tight supply and potential further weakening of the dollar. Others believe that potential supply disruptions could help maintain or boost the price. Platinum prices dropped in late October, largely driven by a strengthening U.S. dollar and increased investor willingness to take hire top java developers on risk. However, platinum prices recovered by mid-November, partly due to ongoing power outages in South Africa, a country responsible for about 70% of the world’s platinum production. Commodities still deserve a place in investors’ portfolios as they provide hedges against supply disruptions, among other things, according to Goldman Sachs Research.