On January 1st, the golden period closed higher on Tuesday, driving gold to its largest annual percentage increase since 2010 in 2024. Data shows that COMEX gold January futures closed up 0.9% on Tuesday, at $2629.20 per ounce; The cumulative increase in 2024 is 27.5%, the largest annual increase since 2010; In the past two years, gold prices have risen by 44.5%. Gold is expected to have a strong upward trend in 2024, mainly driven by increasing geopolitical tensions, easing monetary policy, and increased central bank purchases as a safe haven. Analysts predict that the factors supporting gold prices in 2024 will continue until 2025. However, analysts also added that the policy resistance of the upcoming Trump administration may exacerbate inflation and slow down the pace of interest rate cuts by the Federal Reserve. Wall Street predicts that gold will shine again in 2025. Analysts from JPMorgan, Goldman Sachs, and Citigroup have set their target price for gold at $3000 per ounce in 2025.
Scan code to share