GOLD

Gold

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 <p>Amid its sustained rally beyond the $2,000 mark, the Gold price is set to surpass record highs in 2024. Indeed, the precious metal is set to match the highs that it saw in 2020, as it has reached heights of $2,038.45 this week. Subsequently, new highs are not out of the question as 2023 comes to a close.</p>
 <p>Gold has long been perceived for its value against inflationary concerns. Therefore, as the United States’ economic situation continues to develop, the rising investment interest in <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> has increased. Now, many are expecting that increase to continue well into next year.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="733" height="419" src="https://cdn.thebittimes.com/images/2023/11/29/9d761ef25f58bc7df8c655d6ce8a2936.webp" alt="Gold" class="wp-image-119273" srcset="https://cdn.thebittimes.com/images/2023/11/29/9d761ef25f58bc7df8c655d6ce8a2936.webp 733w, https://cdn.thebittimes.com/images/2023/11/29/9d761ef25f58bc7df8c655d6ce8a2936.webp 300w, https://cdn.thebittimes.com/images/2023/11/29/9d761ef25f58bc7df8c655d6ce8a2936.webp 380w, https://cdn.thebittimes.com/images/2023/11/29/9d761ef25f58bc7df8c655d6ce8a2936.webp 550w" sizes="(max-width: 733px) 100vw, 733px">
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 <p><strong>Also Read: AI Predicts Gold Price for December 2023 (XAU/USD)</strong></p>
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 <h2 class="wp-block-heading" id="h-gold-price-to-reach-new-highs-in-2024">Gold Price to Reach New Highs in 2024?</h2>
 <p>The past year has seen a very fragile US economy attempt to fight off inflation. Indeed, the Federal Reserve has embraced a tightening campaign that saw them raise interest rates for a year straight. Subsequently, that activity had a major effect on certain markets, with <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> certainly leading the way.</p>
 <p>Indeed, following its performance this year, the <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> price could be set to surpass record highs in 2024. Specifically, the precious metal could be well on its way to its greatest performance since 2020. Especially as inflation is still at 2%, and well above the hope of the Fed.</p>
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 <figure class="wp-block-image size-full"><img decoding="async" width="733" height="419" src="https://cdn.thebittimes.com/images/2023/11/29/733da86f83340fff59218fb41954da93.webp" alt class="wp-image-119807" srcset="https://cdn.thebittimes.com/images/2023/11/29/733da86f83340fff59218fb41954da93.webp 733w, https://cdn.thebittimes.com/images/2023/11/29/733da86f83340fff59218fb41954da93.webp 300w, https://cdn.thebittimes.com/images/2023/11/29/733da86f83340fff59218fb41954da93.webp 380w, https://cdn.thebittimes.com/images/2023/11/29/733da86f83340fff59218fb41954da93.webp 550w" sizes="(max-width: 733px) 100vw, 733px">
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 <p><strong>Also Read: Gold Price Prediction: Rejection at $2,000 Opens the Door for a Dip</strong></p>
 <p>Conversely, the price of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> is still rather volatile. In September, prices fell below $1,850. However, November saw prices exceed $2,000. Yet, WisdomTree still predicts that the asset could surpass its all-time high if economic conditions worsen. Moreover, they also predict a 2.60% inflation rate in Q3 of 2024, pushing up demand and the price of the asset.</p>
 <p>Additionally, the head of commodities and macroeconomic research at WisdomTree, Nitesh Shah, noted this in their breakdown. “In other scenarios of the world where economic conditions deteriorate faster and there is a greater demand for defensive assets, we could see gold prices rising even further.”</p>
 <p>The economic status of the United States, coupled with geopolitical tension could bring about a positive performance for <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>. Although they could have terrible impacts on the overall economy, the presence and place of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> in many investment portfolios will see it reap the benefits of that.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gold-price-set-to-surpass-record-highs-in-2024-tbt71972.html">https://thebittimes.com/gold-price-set-to-surpass-record-highs-in-2024-tbt71972.html</a></p>

Gold Price Set To Surpass Record Highs in 2024

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