Gold prices will rally by around 20% this year and set a series of new all-time highs on the way to £1,951. This bullish prognosis, from Swedish investment firm AuAg Funds’ outlook for 2024, sets the stage for a year-long rally.
The firm’s analysts expect the catalyst to be Federal Reserve rate cuts, with the loosening of monetary policy after months of restrictive rate hikes expected to trigger a mammoth rally.
Explaining their projections they say, “We believe that central banks will shift away from rate hikes and adopt a more accommodative policy stance in 2024, which will catalyse a substantial upswing in gold prices for the foreseeable future. Should gold appreciate by 20%, it would end the year at £1,951.”
Set yourself up for success by taking action now, before those price highs kick in. Buy gold today.
