Analysts Predict Gold Prices Could Soar to $3,000 Backed by Rate Cuts
Financial analysts forecast that gold prices could rise significantly, driven by anticipated Federal Reserve rate cuts and ongoing geopolitical tensions.
Experts like Patrick Yip from American Precious Metals Exchange predict gold may reach $3,000 per ounce by 2025 if these factors persist. Similarly, Commerzbank Research expects gold to climb to $2,600 by mid-2025, with potential fluctuations due to inflation. Bloomberg Intelligence’s Mike McGlone also projects a $3,000 peak, citing global recession risks and stock market volatility as key drivers for gold’s continued ascent.
Clever Robot News Desk 20th August 2024
