Will Gold Hit $3,000 with Fed Rate Cuts and Geopolitical Risks?

19 Agu 2024

Gold has outperformed the broader U.S. stock market this year, with analysts predicting further gains as the Federal Reserve nears rate cuts. Gold surged to a new record high of over $2,500 per ounce, and some experts forecast it could reach $3,000 next year. Key drivers include potential Fed easing, geopolitical uncertainties, and increased demand from central banks diversifying away from the U.S. dollar. As interest rates decline, gold’s appeal as a safe-haven asset continues to grow.