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In Spite of Volatile Markets, Gold Prices Are Expected to Climb to $2,500/Oz by The End Of 2024
In Spite of Volatile Markets, Gold Prices Are Expected to Climb to $2,500/Oz by The End Of 2024.
About this update from Asia Broadband, Inc.
[{"type":"text","content":"\n PALM BEACH, Fla., Aug. 14, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - A research article from J.P.Morgan said that Gold prices continue to hit all-time highs, driven by a multitude of factors including heightened geopolitical risks, expectations the Fed will begin lowering rates and central bank buying. The article continued: “Gold prices have continued to hit fresh highs in 2024 due to a wide range of factors — from escalating geopolitical risks and the interest rate outlook to budget deficit concerns, inflation hedging and central bank buying. Gold’s blistering rally this year was partly fueled by expectations the Federal Reserve (Fed) would cut interest rates as many as three times in 2024, as stubborn inflation started to ease. But current projections suggest only one rate cut is penciled in for the remainder of 2024. Gold’s resurgence has come earlier than expected, as it further decouples from real yields. We have been structurally bullish gold since the fourth quarter of 2022 and with gold prices surging past $2,400 in April, the rally has come earlier and has been much sharper than expected. It has been especially surprising given that it has coincided with Fed rate cuts being priced out and U.S. real yields moving higher due to stronger labor and inflation data in the U.S,” said Gregory Shearer, Head of Base and Precious Metals Strategy at J.P. Morgan.   Active Mining Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Gold Fields Limited (NYSE: GFI), Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: GOLD), IAMGOLD Corporation (NYSE: IAG). The J.P.Morgan article added: “Across all metals, we have the highest conviction on a bullish medium-term forecast for both gold and silver over the course of 2024 and into the first half of 2025, though timing an entry will continue to be critical,” Shearer said. Any retracement in the coming months could provide investors with an opportunity to begin positioning for further strengthening, ahead of the Fed’s planned cutting cycle.” It continued asking: “Will gold prices hit another all-time high?   With the strong structural bull case for gold remaining intact, J.P. Morgan has upgraded its gold price targets for this year and ...