Gold rally set to extend into 2025 as central bank buying rebounds
Goldman Sachs now forecasts a gold price of $3,000/oz by the end of next year
10 December 2024 - 05:00
A recent rebound in central bank gold purchases may strengthen forecasts that gold prices will continue to rise into next year, with Goldman Sachs now predicting the price could hit $3,000/oz by year-end.
The price of gold has gained nearly 50% over the past two years, driven largely by safe-haven demand from the world’s central banks. However, after reaching record highs in 2022 and 2023, central bank purchases began slowing at the start of this year, dropping to a low of less than 25 tonnes in August. ..
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