Gold Demand Trends Q3 2023

In the third quarter, all the elements of the supply showed strength. The mining production reached 971 tons, which was a record high in our records that dated 2000 until 2000.

According to the bulletin value, the producer hedging book in the third quarter increased again, but at the timing of this announcement, the producer hedge book could be corrected after most mining companies published a quarterly report. There is sex.

Mine production

In the third quarter, mining production maintained well and updated a record high with a 2%increase yea r-o n-year. The mining production of 2, 744 tons, which was compared to the same period of the previous year, was recorded by 1%exceeding the 2, 706T previous Q1-Q3 record.

Compared to the previous quarter, production increased by 6%, mainly due to normal seasonal fluctuations. Global gold production shows a gentle seasonality: 10 years until 2022, the average amount of mining production in the first half of the year was 48%of the annual production. In the first half, mining production is influenced by Christmas and Easter vacation in many countries, and some mines have a very low temperature, so that operating on the offshore deposits and other grounds is limited.

Mine production hit an all-time third quarter high in 2023*

Mine production hit an all-time third quarter high in 2023*

The mine production was recorded a record high in the third quarter of 2023*.

*The data is as of September 30, 2023. The quarterly data is available from the first quarter of 2000. Source Source: Metals Focus, Refinitiv GFMS, World Gold Council

Information source Metals Focus, Refinitiv GFMS, World Gold Counsil; Disclaimer

*The data is as of September 30, 2023. Acquired quarterly data from the first quarter of 2000.

In the third quarter, mining production in four countries led the increase in global production:

• Canadian mining production increased 14 % yea r-o n-year. Canadian mining production increased 14 % yea r-o n-year. After a temporary closure due to a mountain fire in Quebec, Eleonore recovered to full production and the rise in Massel White's predictive prediers raised production.
• The United States increased 13%yea r-o n-year due to the increase in the production of Nevada Kintan. Improving the mining efficiency of Cortez and Carlin and increasing the production from the Turquoise Ridge's third stimulus ultimately raised the production.
• In Ghana, mining production increased by 7%yea r-o n-year due to an increase in production in the Bibiani mine and increasing the operating rate of the Ahafo mine's high ore.
• The Australian mining production increased by 3%yea r-o n-year due to an increase in the production of KGCM, which continues to be expanded, and continuously launching the Kowal underground mine.

In some countries, a decrease in dignity, the suspension of production, and the Sudan in the case of continuous dispute overlapped, causing a blow to the operation:

• In Mexico, mine production fell 15% year-on-year, mainly due to the temporary shutdown of the Peñasquito mine due to labor disputes. According to media, the strike ended following a wage agreement in early October.
• In Tanzania, production was down 14% year-on-year, with expected declines in Geita and North Mara production.
• In Sudan, mine production was estimated to be down 10% year-on-year, due to ongoing conflict and disruptions to artisanal and small-scale mining (ASM).
• Russia's mine production fell 4% year-on-year, due to a decline in production at Olimpiada, Polyus, the country's largest gold mine. This is likely the result of the order of mine operations, rather than the impact of Western sanctions against Russia. These sanctions do not appear to have a significant impact on gold production, although costs have soared and new projects in development have been delayed.

By region, North America saw the largest increase, up 8 tonnes year-on-year. Gold production in Asia is estimated to have increased by 7 tonnes year-on-year, while Oceania increased by 4 tonnes year-on-year, driven by increased production in China, Australia and Papua New Guinea.

Despite the increased production, mining costs are rising in 2023. AISC rose 6% year-on-year to US$1, 315/oz in Q2 23, the most recent quarter with data, and the highest quarterly record. The rise in industry costs since 2020 is driven by inflationary pressures on all aspects of miners' input costs, particularly labor, fuel and electricity.

Looking into 2023, mine production is likely to surpass the 3, 656 tonnes recorded in 2018, setting a new record, according to Metals Focus.

Net producer hedging

Our initial forecasts suggest that net hedges continued in Q2, but may have been smaller. We assume a 7t contribution to total supply from new net hedges in Q3, which we will adjust after companies report. Similarly, Q2 net hedges were adjusted significantly after companies released their financial results. The global delta-adjusted producer hedge book fell 20t to 188t in Q2'23, compared to our preliminary forecast of a 9t increase. Despite rising local currency gold prices and a sharpening gold forward curve, there is no evidence (yet) that miners are locking in attractive gold forward prices.

In the third quarter, gold recycling was 289 tons, an increase of 8%from the same period of the previous year, down 11%from the previous quarter. The increase in the same period of the previous year was a bit deceptive because the third quarter of 2022 was particularly sluggish due to a decline in gold prices. Compared to the previous quarter, the amount of gold recycling was 924 tons, an increase of 9%yea r-o n-year, and it was a high level since 2020.

Recycled gold

In the third quarter, the recycling supply was sluggish and in contrast to the average demand from South Asia and the strong supply from East Asia.

East Asia's solid recycling supply was offset by lo w-tone activities of ROW*.

Strong East Asian recycling supply offset by subdued activity in RoW*

Strong East Asian recycling supply offset by subdued activity in RoW*

*The data is as of September 30, 2023. Source: Metals Focus, World Gold Council Source: Metals Focus, World Gold Council Source: Metals Focus, World Gold Council)

*Data as of September 30, 2023.

The recycling in the European and American market is lower than the lon g-term average, suggesting that the stock near the market is considerably depleted. The low US unemployment rate has reduced recycling supply, despite the strong US dollars. In contrast to this, the shor t-term decline in gold prices has played a role in Europe, which has slowed recycling, especially after the eur o-built gold price dropped sharply in September.

In the Middle East, Turkey and Egypt were traded at high prices from their own currency, but due to further concerns about economic and currency depreciation and lack of investment alternative means, recycling supply was sluggish, and gold among economic and political turmoil. The charm was shown.

In India, the amount of recycling decreased significantly compared to the previous quarter due to the fact that rupe e-built gold prices have fallen, but the amount of recycling has increased compared to the same period of the previous year due to the rise in local currency construction prices during this period. In addition, the ratio of exchanges with old gold to sell jewelry has also reduced the amount of recycling.

In China, the rapidly increased recycling amount in the second quarter of 2013 decreased compared to the previous quarter. In the quarter, the demand for jewelry has improved, and the reasons for retailers to organize inventory have decreased. Retailers adopted a more conservative approach after retailers recycled in the second quarter. However, compared to the third quarter of 2010, which was influenced by COVID, the recycling supply increased compared to the same period of the previous year. It is interesting that COVID influence on the supply and demand of China spreads until at least the first quarter of 2014.

Overall, we were somewhat surprised by the weak recycling supply in many markets in Q3'23. However, the resilience of the US economy and the fall in euro-denominated gold prices restrained recycling supply in these markets. The October gold price increase following the Middle East unrest could tempt sellers in Q4'23, but a larger upside would materialize if the economy slows further or accelerates. Read the Outlook section for more information.

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Gold prices are hitting new all-time highs amid widespread inflation, geopolitical risks and a looming Fed interest rate cut. Below are the latest gold forecasts and price projections from leading banking and industry experts for the second half of 2024 and beyond.

Gold Forecast & Price Prediction for September 2024: Will the gold rate decrease in the coming days after hitting a new high above $2,500?

Spot gold (XAU/USD) traded above $2, 300 per ounce for much of the second quarter, marking three consecutive quarters of gains and the highest gain since the Covid pandemic. The +15% surge in the first half of the year was driven primarily by safe-haven demand due to conflicts in Ukraine and the Middle East, as well as central bank buying.

Gold prices in August rose above the key $2, 500 level, a record high, driven by a weak dollar and rising investor sentiment that the Federal Reserve is likely to cut interest rates in September.

Gold has outperformed the broader U. S. stock market this year, and Wall Street is growing more bullish on the precious metal as the Federal Reserve approaches a rate cut.

Bullion has risen about 21% in 2024, compared with a 16% rise in the S& P 500. Gold typically rises when the outlook for long-term interest rates darkens, making yield-paying assets like bonds less attractive.

In this article, we provide a detailed market outlook and gold price forecast for September 2024 and beyond, examining key market themes and key drivers, as well as valuable insights into the dynamics of price action, that could play a pivotal role in shaping the precious metal's trajectory.

Gold Outlook for the Coming Days and Weeks With two active military theaters, important upcoming elections and uncertain global monetary policy, safe haven demand is expected to continue to support gold prices in the short to medium term. Overall, gold is expected to average $2, 380/oz in Q3, peak at $2, 450/oz in Q4, and average $2, 301/oz for the year.

Gold Forecast & Price Prediction – Key Notes

• 2025 Market Market Outlook: In Wall Street, it is expected that more than 20%this year will approach $ 3, 000 next year. Komertz Bank, TD Securities, and other industrial experts have raised the forecasts of gold as the Fed has been concerned about economic retreat, which may be forced to deepen interest.
• Most of the gold market forecast for the next five years: Most analysts predict that the gold market will rise slowly over the next year, but the most optimistic in the next five years is 3000 gold market. He pointed out that it will be traded for more than dollars.
• Account opening

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Kim updated the highest ever in mi d-May and August, reaching the second half of the dollar level higher than the opening price in the second quarter of 2024. In the global interest rate environment, the expectation of expected interests, especially in the United States, has not been realized, and the inflation rate has surpassed the expectations of each central bank.

Fundamental Gold Forecast Q3 2024

The buying of the central bank, especially in China, turned the supply and demand balance to the rise. However, if demand retreats, gold is more susceptible to falling pressure.

Furthermore, the political risk premium that supported the money has decreased, but it is no wonder that there are some particularly hig h-ranking elections. Gold traders will have many factors to watch in the third and second half of the third quarter.

With the increasing number of economic data supported by the U. S. Federal Reserve Council (Fed), the optimism of the United States on interest rates has also supported this year's prospects. Declining borrowing costs generally support no n-interest rates.

Delays in US Rate Cuts

In early 2024, the financial market anticipated that the US Federal Preparatory System Council (Fed) predicted a 2 5-Basis point rate of rates four to five times, and the initial rate of interest would be held in the second quarter. This forecast has been significantly revised down in the past few months, and is now expected to fall one or two times. This matches the latest FOMC yea r-end forecast.

Source LSEG data stream

The economic data announced in the first quarter of the third quarter was not good, and the Fed is increasingly looking to ease monetary easing in September. According to the data published by the US Labor Statistics Bureau, US employment and wage growth in June slowed down and unemployment rates have risen. Swap traders are currently seeking 75 % of the possibility of interes t-down within two months, and the FRB is increasingly expected to turn monetary easing in September.

In the Economist of ING, considering that the first interest rate of the Fed will be in September, and the Fed Fund will decrease to 4%by the summer of next year, the market is currently assumed to be two rates. He believes that three rates will be performed this year.

With the high US interest rates, the cost of holding lo w-yield assets increases. Increased interest in bonds, such as bonds, can be relatively attractive because they can earn income through interest payments. As a result, investors may choose to shift funds from money and invest in assets that can provide yields and returns based on the current interest rates.

According to the World Gold Council, the Central Bank added 1, 037 tons in 2023, following the 1, 082 tons recorded in 2022, which was the second largest year in history. A total of 70 central banks participated in the 2024 Central Bank Transportation Research, which took place from February 19 to April 30, 2024. Of these, 29%of them will increase their money next year, stating that "this is the highest level since we started this survey in 2018."

Central banks keep buying gold

In May, the central bank pure pure purchase amount was 10 tons, but demand decreased in the middle of the moon. According to World Gold Council (WGC) data, the developmental market central bank was the top in the amount of money in May, and Polish National Bank became the biggest buyer, followed by the Central Bank of Turkey and Indian Bank.

Meanwhile, India Bank has added more than 9 tons in June, which has been a lot since July 2022. India's preparation has expanded by 37 tons this year to 841 tons.

In the current economic situation and geopolitical tensions, the demand of central banks is expected to continue to be solid.

According to a recent WGC survey, the purchase of the central bank is still strong, and 29%of the respondents of the central bank have shown their intention to increase their money in the next 12 months, which is WCG in 2018. It has been the highest since the preparation survey started.

After a 1 8-month purchase, China stopped purchasing money for the purpose of preparing in May, when precious metals recorded a record high. According to the data announced last week, the amount of money held by the People's Bank of China was stable in May, 72. 8 million trooons. China did not add money for two consecutive months in June.

China halts buying gold for reserves

For the first time since October 2022, the country's central bank did not increase its preparation. As a result, gold became more susceptible to negative pressure.

China is a golden buyer, and the central bank's gold demand started in the first quarter, the highest in the past year. In an unstable era, gold prices tend to rise when investors flock to safety assets as inflation, geopolitical anxiety, and economic state.

Compared to 160, 000 Oons in March and 390, 000 ounces in February, the Chinese Bank of China has only purchased only 60, 000 trooion gold in April, and has slowed China's motivation for gold. I am. The record of recorded money may temporarily decrease demand.

The world's gol d-listed investment trust (ETF) flows have turned to positive for the first time in a year in May, while Europe and Asia led global funding, and North America turned negative.

ETF flows turn positive in May

Gold ETF investors generally increase when gold prices rise, and vice versa. However, while spot gold prices have renewed the highest price, gold ETFs have decreased over 2024. The ETF flow finally turned positive in May.

Meanwhile, COMEX's net long position increased in May compared to the previous month, spurred the positive psychology of gold.

In the latter half of 2024, large general elections will be held around the world, including the rematch of US President Joe Biden and US President Donald Trump. Market volatility will increase for the voting date on November 5.

Controversial Upcoming Elections

This year, both parties have been concerned about foreign interference and media biased reports, but in the previous presidential election, Donald Trump loses voters' fraud. It would be essential to watch the movements for this year's election.

Unusually, money can behave like a risk asset. During the global financial crisis, some investment funds had to sell the most liquid assets to offset portfolio losses. In such a relatively rare scenario, gold prices may fall at the same time as stocks.

Will the Gold Price Decrease in the Coming Days and Weeks?

However, the most frequently occurring scenario is when the market crash increases cash demand, when the desire for higher yields is overwhelming to inflation, or when the market emphasizes fluidity over purchasing power.

In the medium to long term, gold prices are expected to be influenced by geopolitics. War in Ukraine and the Middle East and the tensions between the United States and China suggest that demand as a safety asset continues to support gold prices in a short and middle period. We have seen the U. S. presidential election in November and the lon g-awaited US FRB rate of US Fed will increase the rising momentum of gold until the end of the year. It is expected that the central bank will continue to increase its holdings, which will be a support material.

Even if gold prices fall in the future, the average gold price in the third quarter is expected to be $ 2, 300. The gold prices in the fourth quarter are expected to rise, $ 2, 350 per ounce, and $ 2, 255 per year.

According to product strategists, geopolitical risks that emit the Red Sea and this year, when elections are concentrated worldwide, it is likely that gold retail demand will continue to increase.

What analysts are forecasting about gold price

Money, which has been considered a historic value of a safe asset, has gained attention among investors in 2020, in the worst pandemic, and recorded more than 40%. Yellow metal has been more than 40 % in the past three years, nearly 60 % in the past five years, and nearly 500 % in the last 20 years.

Is it Time to Invest in Gold?

This is inferior to S & amp; P500, but it slightly exceeds the return in the middle of the first half of the single digit, such as government bonds and hig h-yielding savings accounts, and is less than the highest time in the short period of time. 。

According to the JP Morgan Chase, the amount of money owned by investors is $ 3. 3 trillion. This accounts for about 1. 4 % of the global investment.

Investors can not only buy gold and futures contracts, but also buy listed investment trusts (ETFs) that own products, or buy stocks for listed companies that mining gold.

Gold mine rising this year: Gold Fields (up 50 %), Kinros Gold (up 27 %), Franco Nevada (up 14 %), Royal Gold (up 19 %), Balic Gold (up 10 % increase) ) The stock price exceeds 8 % of S & amp; P500.

Capex. com allows you to invest in money in various ways:

How to Invest in Gold in 2024

In spot gold trading spot gold transactions, precious metals are immediately traded, and exchanges are exchanged at the exact moment when transactions are settled, that is, at the "spot" price. When engaging in gold spot transactions, investors are generally buying or selling at the current market rate, which are generally called spot prices.

Gold ETF transactions or purchase listing investment trusts (ETFs) can help investors' mining, refining, and tracking stock performances for production companies. Engaging in ETF transactions expands investor exposure, which helps portfolio dispersion.

Gold mine trading or purchased gold mining companies and gold mining funds are another way to invest in gold. This allows investors to distribute portfolios in the gold industry by trading (long or short) or purchasing stocks related to gold mining and production.

Account opening

In the first quarter of 2024, the price continued to rise in the last month of 2023. During this rising, the gold market renewed the highest value in history, exceeded $ 2, 150, eventually exceeding $ 2, 400, but fell in a few days to a few weeks later.

Technical Gold Forecast Q3 2024: Reversal or Consolidation?

During the second quarter, gold prices rose $ 100 and tried three times the level of $ 2, 400. The gold price may fall in a few days after the hig h-priced zone may form a bear head and shoulder (H & amp; s) price pattern. Such a chart pattern generally occurs at the top of the market, suggesting a change in trends. If H & Amp; S is valid, it may suggest that the mediu m-term bullish trend will be inverted.

However, the chart pattern was not confirmed by the neckline breakout. The daily chart oscillator is heavy and the lower price is heavy.

The oscillator on the daily chart is changing in a plus zone, and it is not yet in the zone of too much. This suggests that the most resistant path for gold prices is upwards.

Therefore, if there is a meaningful return around $ 2500, it will be a buying place and will help you drop gold prices near the $ 2480 resistance breakpoint. However, if the sale continues, the XAU/USD may be dragged by the horizontal support of $ 2, 455-2, 453 and may fall to around $ 2, 430. If you fall down the latter, you may be dragged to a 5 0-day pure moving average (SMA), which is currently located just below $ 2400.

Source Capex Webtrader < SPAN> Gold ETF trading or purchasing listed investment trusts (ETFs) helps investers to minimize, purify, and track the stock performance of production companies. Engaging in ETF transactions expands investor exposure, which helps portfolio dispersion.

Gold mine trading or purchased gold mining companies and gold mining funds are another way to invest in gold. This allows investors to distribute portfolios in the gold industry by trading (long or short) or purchasing stocks related to gold mining and production.

Will gold price decrease in the coming days following the completion of the reversal pattern?

• Account opening
• In the first quarter of 2024, the price continued to rise in the last month of 2023. During this rising, the gold market renewed the highest value in history, exceeded $ 2, 150, eventually exceeding $ 2, 400, but fell in a few days to a few weeks later.

During the second quarter, gold prices rose $ 100 and tried three times the level of $ 2, 400. The gold price may fall in a few days after the hig h-priced zone may form a bear head and shoulder (H & amp; s) price pattern. Such a chart pattern generally occurs at the top of the market, suggesting a change in trends. If H & Amp; S is valid, it may suggest that the mediu m-term bullish trend will be inverted. However, the chart pattern was not confirmed by the neckline breakout. The daily chart oscillator is heavy and the lower price is heavy.

Gold price predictions for 2024 from experts

The daily chart oscillator is changing in the plus, and it is not yet in the zone of too much. This suggests that the most resistant path for gold prices is upwards.

Therefore, if there is a meaningful return around $ 2500, it will be a buying place and will help you drop gold prices near the $ 2480 resistance breakpoint. However, if the sale continues, the XAU/USD may be dragged by the horizontal support of $ 2, 455-2, 453 and may fall to around $ 2, 430. If you fall down the latter, you may be dragged to a 5 0-day pure moving average (SMA), which is currently located just below $ 2400.

• Source Capex Webtrader Gold ETF trading or listing investment trusts (ETFs) helps investors to track the listing of gold, purification, and track the stock performance of production companies. Engaging in ETF transactions expands investor exposure, which helps portfolio dispersion.
• Gold mine trading or purchased gold mining companies and gold mining funds are another way to invest in gold. This allows investors to distribute portfolios in the gold industry by trading (long or short) or purchasing stocks related to gold mining and production.
• Account opening
• In the first quarter of 2024, the price continued to rise in the last month of 2023. During this rising, the gold market renewed the highest value in history, exceeded $ 2, 150, eventually exceeding $ 2, 400, but fell in a few days to a few weeks later.
• During the second quarter, gold prices rose $ 100 and tried three times the level of $ 2, 400. The gold price may fall in a few days after the hig h-priced zone may form a bear head and shoulder (H & amp; s) price pattern. Such a chart pattern generally occurs at the top of the market, suggesting a change in trends. If H & Amp; S is valid, it may suggest that the mediu m-term bullish trend will be inverted.
• However, the chart pattern was not confirmed by the neckline breakout. The daily chart oscillator is heavy and the lower price is heavy.
• The oscillator on the daily chart is changing in a plus zone, and it is not yet in the zone of too much. This suggests that the most resistant path for gold prices is upwards.
• Therefore, if there is a meaningful return around $ 2500, it will be a buying place and will help you drop gold prices near the $ 2480 resistance breakpoint. However, if the sale continues, the XAU/USD may be dragged by the horizontal support of $ 2, 455-2, 453 and may fall to around $ 2, 430. If you fall down the latter, you may be dragged to a 5 0-day pure moving average (SMA), which is currently located just below $ 2400.
• Source Capex Webtrader
• If the neckline is decisively lower, the H & Amp; S pattern will be verified and the lowering target will be enabled. The first more conservative target is $ 2, 171, which is calculated by taking a height of 0. 618 at the height of the Fibonacci and outside the neckline. The second target is $ 2, 106, with the overall height of the pattern.
• However, if you get out of $ 2, 345, H & Amp; S may be suspicious, and the peak of $ 2, 450 may continue as the first target.

The World Bank’s Gold Prediction 2024

How to trade gold

How to buy money

The IMF’s Gold Forecast 2024

Many sources and experts provide gold forecasts and gold forecasts in 2024 based on different models, methods and assumptions. Despite the average performance in 2024, many investment banks have greatly maintained gold rates for the next five years, 2024.

However, the central bank is continuing to increase the preparation of gold and highlights the permanent charm of precious metals. The following section describes the most reputable and influential information sources and experts about gold forecasts:

Goldman Sachs’s Gold Prediction 2024

The World Bank predicts the average gold price of 2024 by $ 1950 per ounce.

JP Morgan’s Gold Rate Prediction 2024

The International Currency Fund (IMF) predicts the average gold price in 2024 to $ 1, 775 per oz.

ABN AMRO’s Gold Price Prediction 2024

Goldman Sachs predicts the average gold price in 2024 to $ 2, 133 per ounce.

Citigroup’s Gold Rate Prediction 2024

JP Morgan Chase predicts that the gold price in 2024 will reach $ 2, 175 per ounce.

UBS’s Gold Rate Forecast 2024

ABN Amuro predicts the average gold average price of $ 2, 000 per oz.

Commerzbank’s Gold Prediction 2024

CITY GROUP has revised the gold average price forecast in 2024 to $ 2, 040.

UBS raised the gold price forecast in 2024 from $ 1950 to $ 2200.

ING’s Gold Rate Forecast 2024

Komertz Bank raised the gold market forecast in early 2025 to $ 2, 600.

ING is expected to peak gold prices in the fourth quarter of 2024.

TD Securities' Gold Price Prediction 2024

TD Securities expects the gold price to reach $ 2, 700 in the first quarter of 2025.

UOB predicted that gold would update the highest ever in 2024. < SPAN> If the neckline is decisively lower, the H & Amp; S pattern will be verified and the lowering target will be enabled. The first more conservative target is $ 2, 171, which is calculated by taking a height of 0. 618 at the height of the Fibonacci and outside the neckline. The second target is $ 2, 106, with the overall height of the pattern.

UOB's Gold Rate Forecast 2024

However, if you get out of $ 2, 345, H & Amp; S may be suspicious, and the peak of $ 2, 450 may continue as the first target.

How to trade gold

How to buy money

Many sources and experts provide gold forecasts and gold forecasts in 2024 based on different models, methods and assumptions. Despite the average performance in 2024, many investment banks have greatly maintained gold rates for the next five years, 2024.

Other Gold price predictions 2024 (AI-Based)

However, the central bank is continuing to increase the preparation of gold and highlights the permanent charm of precious metals. The following section describes the most reputable and influential information sources and experts about gold forecasts:

The World Bank predicts the average gold price of 2024 by $ 1950 per ounce.

Wallet Investor - Neutral Gold price prediction 2024

Coin Price Forecast - Bullish gold price prediction 2024

Long Forecast - Bearish gold price prediction 2024

Trading Economics - Neutral to bullish gold rate forecast 2024

Gold price prediction for the next 5 years

The International Currency Fund (IMF) predicts the average gold price in 2024 to $ 1, 775 per oz.

Goldman Sachs predicts the average gold price in 2024 to $ 2, 133 per ounce.

Gold Price Prediction for the next 5 years from Long Forecast

Gold price forecast for the next 5 years from Wallet Investor

Gold Price Prediction 2025-2030 from Coin Price Forecast

JP Morgan Chase predicts that the gold price in 2024 will reach $ 2, 175 per ounce.

What moves the price of gold in the future?

ABN Amuro predicts the average gold average price of $ 2, 000 per oz.

1. CITY GROUP has revised the gold average price forecast in 2024 to $ 2, 040.
2. UBS raised the gold price forecast in 2024 from $ 1950 to $ 2200.

Komertz Bank raised the gold market forecast in early 2025 to $ 2, 600.

• ING is expected to peak gold prices in the fourth quarter of 2024.
• TD Securities expects the gold price to reach $ 2, 700 in the first quarter of 2025.

How has the price of Gold changed over time?

UOB predicted that gold would update the highest ever in 2024. If the neckline is decisively lower, the H & Amp; S pattern will be verified and the lowering target will be enabled. The first more conservative target is $ 2, 171, which is calculated by taking a height of 0. 618 at the height of the Fibonacci and outside the neckline. The second target is $ 2, 106, with the overall height of the pattern.

However, if you get out of $ 2, 345, H & Amp; S may be suspicious, and the peak of $ 2, 450 may continue as the first target.

Gold Price in 2019

How to trade gold

Gold Price in 2020

How to buy money

Many sources and experts provide gold forecasts and gold forecasts in 2024 based on different models, methods and assumptions. Despite the average performance in 2024, many investment banks have greatly maintained gold rates for the next five years, 2024.

Gold Price in 2021

However, the central bank is continuing to increase the preparation of gold and highlights the permanent charm of precious metals. The following section describes the most reputable and influential information sources and experts about gold forecasts:

The World Bank predicts the average gold price of 2024 by $ 1950 per ounce.

Gold Price in 2022

The International Currency Fund (IMF) predicts the average gold price in 2024 to $ 1, 775 per oz.

Goldman Sachs predicts the average gold price in 2024 to $ 2, 133 per ounce.

JP Morgan Chase predicts that the gold price in 2024 will reach $ 2, 175 per ounce.

ABN Amuro predicts the average gold average price of $ 2, 000 per oz.

Gold Price in 2023

CITY GROUP has revised the gold average price forecast in 2024 to $ 2, 040.

UBS raised the gold price forecast in 2024 from $ 1950 to $ 2200.

Komertz Bank raised the gold market forecast in early 2025 to $ 2, 600.

Gold Price in 2024

ING is expected to peak gold prices in the fourth quarter of 2024.

Conclusion: Is Gold a good investment for 2024 and beyond?

TD Securities expects the gold price to reach $ 2, 700 in the first quarter of 2025.

UOB predicted that gold would update the highest ever in 2024.

The World Bank, a global financial institution that plays an important role among central banks and provides loans and grants to developing countries for various projects, recently predicted an average gold price of $2, 100 per ounce in 2024, up from $1, 700 in 2023. This updated gold price forecast for 2024 is based on the assumption that conflict in the Middle East will lead to increased global uncertainty, which will have a significant impact on gold prices if the conflict escalates. "If conflict escalates, risk appetite will decrease and consumer and investor confidence will decline. These developments could lead to a spike in gold prices," it said.

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The World Bank's gold price forecast for 2025 states that "prices are expected to remain high but gradually decline, averaging around $2, 050 per ounce in 2025."

The IMF, an international organization that promotes global financial stability, economic cooperation, and sustainable growth, forecasts the average gold price to be $1, 775 per ounce in 2024, slightly down from $1, 800 in 2023. This 2024 gold price forecast is based on forecasts of global economic activity, inflation expectations, and financial market conditions.

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• Goldman Sachs, one of the world's leading investment banking, securities, and investment management companies, has a positive outlook for the yellow metal in 2024, predicting an average gold price of $2, 133 per ounce. The firm's analysts believe that gold will trade higher than the market consensus in the near term due to its safe haven status and the "fear" factor. This "fear" factor is driven by growing uncertainty, including banking and financing stresses and the growing likelihood of a market-indicated US recession in 2024. Goldman Sachs also cited the wealth effect, particularly the surge in incomes and savings in emerging markets such as China and India, as a factor supporting gold prices.
• According to the JP Morgan Chase and Company, the gold reached $ 2, 012 by the mi d-2024 and $ 2, 175 per ounce in the fourth quarter. This rises from about $ 1, 915 as of August 9, 2023. According to the bank, the FED expects to completely change interest rate tightening policies and start a reduction in interest rates by the second quarter of 2024, and the decrease in yield is the "important propulsion force" of gold. There is. Having money in a low interest rate environment has to give up on hig h-profits that may be obtained from other investments in a hig h-yield environment. Therefore, as JP Morgan predicts between the next 12 and 18 months, funds tend to return to gold.
• ABN Amuro, a Dutch bank, offers a variety of banks and financial services for individuals, private, and corporate customers, but is predicted that the gold average price in 2024 will be $ 2, 000 per oz. It has fallen from $ 2, 200 per ounce. The gold market forecast in 2024 is based on the expectation of a higher US $, a rise in real interest rates, a decrease in inflation pressure, and a decline in investors' gold demand.
• The City Group said that the average price forecast for the gold in 2024 was raised to $ 2, 040 per ounce and said it was an opportunity to "buy dip" as US inflation was alleviated. Expectations for the end of the interest rat e-up cycle of the US Federal Reserve (Fed) are increasing, government bond yields have declined, and we support lo w-yielding and silve r-like and zer o-zer o-yield assets.
• UBS, a multinational investment bank and a financial service company headquartered in Switzerland, has revised $ 2200 to $ 2200 in the first quarter of 2024. Before that, it was $ 1950. UBS has three main factors: a stable demand from the central bank, the essential weakness of the US dollar, and the US economic recession.

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Komertz Bank has raised the gold forecast and predicts three Fed interests by the end of this year, and three more in the first half of 2025. As a whole, it is two times more than the conventional prediction.

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The bank predicts that the gold price will rise to $ 2, 600 in the middle of next year. At the end of 2025, the gold prices would fall to $ 2, 550 (previously $ 2, 200), from the r e-increased inflation rate and the accompanying interest rate hikes of the following year.

Dutch banks believe that geopolitics will continue to be one of the important factors to move gold prices. War in Ukraine and the Middle East, and the tensions between the United States and China suggest that demand as a safety asset continues to support gold prices in a short period of time. We see that the US presidential election in November and the lon g-awaited U. S. Fed will increase the momentum of gold until the end of the year. It is expected that the central bank will continue to increase its holdings, which will be a support material.

CDE’s Outlook for Rochester

According to TD Securities, the average price for the third quarter is $ 2, 380, the peak price in the fourth quarter is $ 2, 450, an average annual price of $ 2, 301.

TD Securities' expectations are more bullish. The major reason for this bullish forecast is that the market is increasing in the market, rather than the Fed's interest rate, rather than far away.

Coeur Mining’s Q2 Performance

After achieving $ 2, 500, TD Securities may achieve $ 2, 700 per ounce in the next few quarters, although the gold prices may fall in the next few days. It is said that there is.

UOB's global economics & market research states that retreating both US dollars and interest rates, which are expected to be 2024, is an important positive factor for gold. As a result, the gold prices are predicted that by the end of 2024, it could reach $ 2, 200 per oz.

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The average consensus forecast is more than $ 2, 100 per ounce in 2024. However, it is necessary to keep in mind that this is a prediction. The current gold price and gold forecasts should lead us, but the economic situation is always surprising.

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The global monetary policy's "lon g-term interest rate rise" stance still has a negative impact on gold prices, and gold prices have been at a low level since March 2023.

Although there is still a possibility that precious metal prices will fall, websites using institutional investors and AI will cost more than $ 2, 000 per ounce next year, despite the shor t-term retreat. He has a optimistic view that he will rise.

It is difficult to say such a long period of time, but specialists with various resources are in line with the fact that money continues to rise. However, he has the opposite opinion about its speed.

What is the gold price forecast for the next 5 years? See the forecast of the gold price about five years later by Forcaster.

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*Analysts and online prediction sites are worth keeping in mind that predictions may be wrong and that they may actually be wrong. Keep in mind that past achievements and predictions are not a reliable indicator of the future return. When considering gold prices after 2024, it is important to keep in mind that the high volatility of the market and the macro economic environment make it difficult to perform accurate lon g-term gold analysis and predictions. 。 Therefore, analysts and forecasts may make mistakes in gold forecasts.

Unlike most other assets, gold is generally not a safe asset or a risk asset. Instead, it is a currency hedge that increases demand if there is a concern that inflation will decrease in the purchasing power of unexpected banknotes (especially the widely held currency, such as US dollar and euro). In other words

In the era of optimism (also known as risk selection), if the market grows, the money will rise, the feeling of higher yields will be higher than inflation concerns, and investors will bring better returns. If it shifts to a classic risk asset, it will fall.

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• In the age of pessimism (also known as risk avoidance theory), if the market stalls will lead to currency reprints that can cause growth deficit and inflation, money will rise, or deflation will rise. Fearing the market crash, it may fall, and cash demand may increase. At the time of panic, traders seek cash to cover margin calls and other debts, or to prepare for bargain hunting.
• If the market is not concerned about the decrease in purchasing power, major currencies tend to rise to gold. It is due to the following reasons:
• Inflation expectations as seen from the latter half of 2011. Gold has entered a decline for several months due to low concerns about the global economy.
• The panic is when the market is afraid of the financial crisis and the liquidity is the top priority. We saw that money was sold when anxiety about the United States and the EU peaked. At such times, investors tend to sell money to procure cash.
• The following is a gold chart that shows a change in gold prices over the past 10 years. It is important to look back on such past data to make predictions and expectations as accurate as possible. < SPAN> *Analysts and online prediction sites are worth keeping in mind that predictions may be wrong and that they may actually be wrong. Keep in mind that past achievements and predictions are not a reliable indicator of the future return. When considering gold prices after 2024, it is important to keep in mind that the high volatility of the market and the macro economic environment make it difficult to perform accurate lon g-term gold analysis and predictions. 。 Therefore, analysts and forecasts may make mistakes in gold forecasts.
• Unlike most other assets, gold is generally not a safe asset or a risk asset. Instead, it is a currency hedge that increases demand if there is a concern that inflation will decrease in the purchasing power of unexpected banknotes (especially the widely held currency, such as US dollar and euro). In other words

In the era of optimism (also known as risk selection), if the market grows, the money will rise, the feeling of higher yields will be higher than inflation concerns, and investors will bring better returns. If it shifts to a classic risk asset, it will fall.

In the age of pessimism (also known as risk avoidance theory), if the market stalls will lead to currency reprints that can cause growth deficit and inflation, money will rise, or deflation will rise. Fearing the market crash, it may fall, and cash demand may increase. At the time of panic, traders seek cash to cover margin calls and other debts, or to prepare for bargain hunting.

If the market is not concerned about the decrease in purchasing power, major currencies tend to rise to gold. It is due to the following reasons:

Inflation expectations as seen from the latter half of 2011. Gold has entered a decline for several months due to low concerns about the global economy.

The panic is when the market is afraid of the financial crisis and the liquidity is the top priority. We saw that money was sold when anxiety about the United States and the EU peaked. At such times, investors tend to sell money to procure cash.

The following is a gold chart that shows a change in gold prices over the past 10 years. It is important to look back on such past data to make predictions and expectations as accurate as possible. *Analysts and online prediction sites are worth keeping in mind that predictions may be wrong and that they may actually be wrong. Keep in mind that past achievements and predictions are not a reliable indicator of the future return. When considering gold prices after 2024, it is important to keep in mind that the high volatility of the market and the macro economic environment make it difficult to perform accurate lon g-term gold analysis and predictions. 。 Therefore, analysts and forecasts may make mistakes in gold forecasts.

Unlike most other assets, gold is generally not a safe asset or a risk asset. Instead, it is a currency hedge that increases demand if there is a concern that inflation will decrease in the purchasing power of unexpected banknotes (especially the widely held currency, such as US dollar and euro). In other words

In the era of optimism (also known as risk selection), if the market grows, the money will rise, the feeling of higher yields will be higher than inflation concerns, and investors will bring better returns. If it shifts to a classic risk asset, it will fall.