GOLD

Gold

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 <p>The prices of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> are skyrocketing due to the ongoing conflict in the Middle East between Israel and Palestine. Gold prices spiked double digits this month rising by 12% in November. The precious metal was at $1,815 at the end of October and reached a high of $1,968 last week.</p>
 <p>However, its price saw a pullback due to the Fed’s hawkish stance on the US dollar on Friday. The precious commodity is now at $1,938 and remains briefly in the red at the start of the trade on Monday.</p>
 <p><strong>Also Read: BRICS Looks to Ditch US Internet Services &amp; Create New Alternative</strong></p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="751" src="https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp" alt class="wp-image-118822" srcset="https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 1024w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 300w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 768w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 380w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 550w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 800w, https://cdn.thebittimes.com/images/2023/11/14/096d304c3fc8cb1db91959054e1057f1.webp 1161w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: in.investing.com
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 <p>However, the conflict in the Middle East could escalate further as the US did not support a ceasefire in Gaza. Israel and the US are committed to engaging in the Gaza Strip indicating that the conflict could go on further.</p>
 <p>The development adds to the burden on the already suffering global stock market which remained bearish this year. In this article, we will highlight how high <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices could go next year in 2023 reaching a new all-time high.</p>
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 <p><strong>Also Read: BRICS: Russia Outperforms US Dollar by Dumping Yuan &amp; Ruble Currencies</strong></p>
 <h2 class="wp-block-heading" id="h-gold-prices-estimated-to-spike-50-touch-3-000-in-2024">Gold Prices Estimated To Spike 50%, Touch $3,000 in 2024</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="585" src="https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp" alt class="wp-image-118827" srcset="https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 1024w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 300w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 768w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 380w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 550w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 800w, https://cdn.thebittimes.com/images/2023/11/14/04a4644aabc2a45f722c03ef982e63ed.webp 1063w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>Senior commodity strategist Mike McGlone wrote that <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices could skyrocket further and reach $3,000 next year in 2024. The macroeconomic conditions could push <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices up and weaken the stock market, the Bloomberg commodity strategist forecasted.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="781" height="642" src="https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp" alt="gold chart" class="wp-image-118491" srcset="https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp 781w, https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp 300w, https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp 768w, https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp 380w, https://cdn.thebittimes.com/images/2023/11/14/b454d5321585d71c8ff7f7e243ce3f92.webp 550w" sizes="(max-width: 781px) 100vw, 781px">
  <figcaption class="wp-element-caption">
   Source: Mike McGlone
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 </figure>
 <p><strong>Also Read: 3 Ways BRICS Could End U.S. Dollar Supremacy</strong></p>
 <p>McGlone published a report titled <strong>“Copper $3, Gold Toward $3,000: US Recession Could Be 2024 Path”</strong> this month predicting that a big upswing in <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices is on the way. If <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> hits $3,000 next year, it would be a return on investment of nearly 50% from its current price. That’s a huge leap for <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> in less than a year if his prediction turns accurate.</p>
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 <p>The global adversity will help <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> to spike in price as it is a safe haven and a hedge against inflation. The development<strong> “may portend a firming foundation for the metal,”</strong> McGlone summed it up.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>GOLD</li>
  <li>US DOLLAR</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-prices-forecasted-to-rise-50-in-2024-reach-3-000-tbt70171.html">https://thebittimes.com/gold-prices-forecasted-to-rise-50-in-2024-reach-3-000-tbt70171.html</a></p>

Gold Prices Forecasted To Rise 50% In 2024, Reach $3,000

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