GOLD

Gold

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 <p>Gold prices surged immensely since last month due to the ongoing conflict in the Middle East between Israel and Palestine. The price of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> climbed double digits in two weeks spiking up to 12% in the charts. Gold went from a low of $1,815 and touched a high of $1,968 this week and is now hovering around $1,946 on Thursday. Investors are pouring into <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> as its seen as a safe haven compared to other investments during a conflict.</p>
 <p><strong>Also Read: Indian Man Finds $3 Million US Dollars on Railway Tracks Marked to UNO</strong></p>
 <figure class="wp-block-image size-full"><img decoding="async" width="770" height="410" src="https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp" alt class="wp-image-118488" srcset="https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp 770w, https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp 380w, https://cdn.thebittimes.com/images/2023/11/09/d2a16189f969fe5ed51f44e247763d30.webp 550w" sizes="(max-width: 770px) 100vw, 770px">
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   Source: goldprice.org
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 <p>The precious metal holds strong when the stock markets tank due to wars and other global conflicts. However, the mounting fears of an escalation in the Middle East indicate that <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices could spike further. In this article, we will provide a price prediction for <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> for the next year in 2024.</p>
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 <h2 class="wp-block-heading" id="h-the-prices-of-gold-estimated-to-reach-3-000-in-2024-analyst">The Prices of Gold Estimated To Reach $3,000 in 2024: Analyst</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="680" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="gold us dollar usd currency brics" class="wp-image-100594 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 380w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 550w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 800w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp.webp 1067w" data-srcset-img="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 1024w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 380w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 550w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 800w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 1067w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="680" src="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp" alt="gold us dollar usd currency brics" class="wp-image-100594" srcset="https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 1024w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 380w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 550w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 800w, https://cdn.thebittimes.com/images/2023/11/09/e97a7ce9b640b0538e0e930b7fbc7bb8.webp 1067w" sizes="(max-width: 1024px) 100vw, 1024px">
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  <figcaption class="wp-element-caption">
   Source: Freepik.com
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 </figure>
 <p>Mike McGlone, the leading senior commodity strategist at Bloomberg predicts that <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices might reach $3,000 next year in 2024. That’s an upswing and return on investment (ROI) of approximately 50% from its current price. McGlone released a post last week that read, <strong>“Copper $3, Gold Toward $3,000: US Recession Could Be 2024 Path.”</strong></p>
 <p><strong>Also Read: BRICS Intra-Trade Reaches 37% of The World’s Transactions</strong></p>
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 <p>The commodity analyst states that <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> performed well this year despite a tough macroeconomic environment posed by the US dollar. The US dollar outperformed several currencies this year including the Chinese Yuan, Yen, Pound, and Sterling. Read here to know how the US dollar dominated local currencies this year in the foreign exchange market.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="781" height="642" src="https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp" alt class="wp-image-118491" srcset="https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp 781w, https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp 300w, https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp 768w, https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp 380w, https://cdn.thebittimes.com/images/2023/11/09/b454d5321585d71c8ff7f7e243ce3f92.webp 550w" sizes="(max-width: 781px) 100vw, 781px">
  <figcaption class="wp-element-caption">
   Source: Mike McGlone
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 </figure>
 <p>McGlone explained that <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>’s strength against the an adverse backdrop could make its price to shoot up further. The development<strong> “may portend a firming foundation for the metal,”</strong> next year, he wrote.</p>
 <p><strong>Also Read: BRICS: Dangers Emerge for Import-Export Sector as US Dollar Rises</strong></p>
 <p>He added, <strong>“Declining copper and industrial metals appear consistent with deteriorating global growth and Bloomberg Economics’ outlook for a US recession to start at about year-end.”</strong></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-reach-3-000-in-2024-tbt69626.html">https://thebittimes.com/gold-prices-forecasted-to-reach-3-000-in-2024-tbt69626.html</a></p>

Gold Prices Forecasted To Reach $3,000 in 2024

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