Where Gold Prices Are Headed Next
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Gold prices have continued to hit fresh highs in 2024 due to a wide range of factors — from escalating geopolitical risks and the interest rate outlook to budget deficit concerns, inflation hedging and central bank buying.
Gold’s blistering rally this year was partly fueled by expectations the Federal Reserve (Fed) would cut interest rates as many as three times in 2024, as stubborn inflation started to ease. But current projections suggest only one rate cut is penciled in for the remainder of 2024, hopefully, propelling Gold higher.
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