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Gold prices have surged nearly 70% since September 2022, reaching a record high of $2,790.07 per troy ounce amid geopolitical tensions and weak economic indicators in Europe. Despite a recent drop, the long-term uptrend remains intact, with year-end targets revised to between $2,800.00 and $2,900.00, while a potential rise to $3,000.00 is anticipated in early 2025. Central bank buying, particularly from China, could further propel prices, with $3,113.00 and $4,000.00 as significant future targets.
IG
22:21 24.11.2024
The spot gold price has surged nearly 70% over the past two years, reaching a record high of $2,790.00 per troy ounce. Analysts predict it could target $3,000.00 by year-end 2025, driven by central bank purchases, with potential for further gains to $3,113.00 and possibly $4,000.00 if the bull market continues. Recent pullbacks have provided buying opportunities, maintaining a medium-term uptrend as long as key support levels hold.
IG
14:57 01.11.2024

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