Gold has skyrocketed, supported by the US Federal Reserve (Fed)'s observations of interest rate cuts by the end of the year.Gold spot price is $2,160 per ounce on ThursdayIt exceeded, and it surpassed the high of 2135 dollars recorded in December last year.
Despite record highs, market participants point out that the actual price of gold after adjusting for inflation is well below past peaks. Currently, many Wall Street analystsThe strength of gold prices will continue until at least the second half of this yearI anticipate that.
Gold hasn't reached its peak yet? Wall Street is still bullish on gold
City analysts said in Monday's report”Medium term bullish on gold”, and gold will come later this yearThe possibility of reaching the record of $2,300 per ounceIt is predicted to be 25%.
However, the estimated price of gold in Citi is still $2,150, and there is even a possibility that gold will reach $3,000 per ounce over the next 12 to 16 months. City sees gold as a “risk hedge” for developed markets, and is strengthening the view that uncertainty surrounding the US election in November will be a positive factor for money.
ING's strategist said on Tuesday...