Supported by speculation about interest rate cuts by the Federal Reserve Board (FRB), gold is skyrocketing.The spot price of gold reached $2160 per ounce on Thursday., surpassing the previous record high of $2135 in December last year.
Despite the record high, market participants point out that the inflation-adjusted real price of gold is significantly lower than past peaks. Currently, many analysts on Wall Streetbelieve that the strength of gold prices will continue at least until the second half of this year.and it is expected.
Is gold not yet at its peak? Wall Street is still bullish on gold.
City analysts in Monday's report,bullish on gold in the medium termin the second half of this yearthere is a possibility of reaching a record of 1 ounce = $2300It is predicted to be 25%.
However, Citigroup's gold price forecast remains at $2150, suggesting that gold could reach $3000 per ounce within the next 12 to 16 months. Citigroup sees gold as a "risk hedge" in developed markets and is strengthening the view that uncertainty surrounding the November US election is a positive factor for gold.
ING strategist said on Tuesday...