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Gold Prices In 2024… Here Are Forecasts by Major Banks And Financial Institutions

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A surging gold price is expected this year amid ongoing geopolitical tensions and expectations of interest rate cuts by most major central banks, led by the Federal Reserve.

Gold Prices In 2024... Here Are Forecasts by Major Banks And Financial Institutions - BullionBuzz - BMG
Growth gold bar financial investment stock diagram on 3d profit graph background of global economy trade price business market concept or capital marketing golden banking chart exchange invest value.

 According to a Bloomberg report, major banks and institutions expect gold to average between $1,950 and $2,200 an ounce in 2024.

JPMorgan expects gold to average $2,175 an ounce in 2024 as the Fed prepares to cut interest rates.

Morgan Stanley sees gold averaging $2,019 an ounce this year, with prices determined by geopolitical risks worldwide.

Bank of America: As the Fed starts cutting interest rates gold will get a boost, with the bank expecting it to average $1,975 in 2024. 

UBS says gold will hit a record high of $2,150 by year end, as US interest rates cut commence. 

Wells Fargo: As the economy slows, it expects gold to hold its ground in early 2024 before advancing by year end to $2,200.

Pictet Asset Management expects gold to benefit from a weaker dollar as the US policy tightening cycle wraps up, while geopolitical tensions gather steam.