GOLD

Gold

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 <p>Gold prices climbed above $2,100 on Monday before retracing in price a few hours later. The precious metal has risen in price for two consecutive months making investors reap handsome rewards. The yellow metal gained 19% in 60 days and outperformed the stocks, forex currencies, oil, cryptocurrency markets, and other commodities. The prices of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> are now hovering around the $2,070 mark but analysts predict more upside swings.</p>
 <p><strong>Also Read: US Dollar First Casualty When Trade Between BRICS Countries Rise</strong></p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="755" src="https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp" alt class="wp-image-120741" srcset="https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 1024w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 550w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 800w, https://cdn.thebittimes.com/images/2023/12/04/f148493bda298f6433b2a3a5f12375b5.webp 1159w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Investing.com
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 <h2 class="wp-block-heading" id="h-gold-prices-will-not-stop-at-2-100-here-s-why">Gold Prices Will Not Stop at $2,100: Here’s Why</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="956" height="636" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="usd dollar gold" class="wp-image-86061 ewww_webp" sizes="(max-width: 956px) 100vw, 956px" data-src-img="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 956w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 550w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 956w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 550w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 800w" data-eio="j">
  <noscript><img decoding="async" width="956" height="636" src="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp" alt="usd dollar gold" class="wp-image-86061" srcset="https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 956w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 300w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 768w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 380w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 550w, https://cdn.thebittimes.com/images/2023/12/04/fad1d62bf4ee213c621617cdb9e5a1c3.webp 800w" sizes="(max-width: 956px) 100vw, 956px">
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  <figcaption class="wp-element-caption">
   Source: Freepik.com
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 </figure>
 <p>The anticipated drawback in interest rate hikes remains to be the key driver for <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> prices to shoot up. Lower interest rates weaken the US dollar and a softer USD makes <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> cheaper for financial establishments. Institutional investors are exiting from the currency markets and investing billions in <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> as a shield against the financial turmoil.</p>
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 <p><strong>Also Read: Gold Price Prediction For December 2023</strong></p>
 <p>Additionally, Central Banks of countries such as China, India, and Russia have accumulated billions worth of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> in 2023. These three countries are the top buyers of <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> this year and are driving demand for the yellow metal.</p>
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 <p>Moreover, the Central Banks of many other countries plan to increase their <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> reserves next year in 2024. The development could push the precious metal’s price further and not stop at the $2,100 level.</p>
 <p><strong>Also Read: Gold Prices Forecasted To Rise 50% In 2024, Reach $3,000</strong></p>
 <p>The prices of the precious metal are in demand as a safe haven due to the Israel and Palestine conflict. Gold mostly performs well when the global markets are in a crisis or when wars and conflicts are escalated. The conflict between Israel and Palestine is escalating with new developments and humanitarian crises. The move adds more strain on the markets making the prices head south.</p>
 <p>In conclusion, the main factor that drives <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> above $2,100 is interest rate cuts by the Feds in 2024. The conflict in the Middle East also boosts <a rel="noopener noreferrer nofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>’s prospects as a safe haven for institutional investors.</p>
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<div class="cs-entry__tags">
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  <li>GOLD</li>
  <li>Gold Prices</li>
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</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/don-t-expect-gold-prices-to-stop-at-2-100-market-analysis-tbt72536.html">https://thebittimes.com/don-t-expect-gold-prices-to-stop-at-2-100-market-analysis-tbt72536.html</a></p>

Don't Expect Gold Prices To Stop at $2,100: Market Analysis

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