World gold price increased slightly

26 gru 2024

Looking ahead to gold prices, John LaForge, head of physical asset strategy at Wells Fargo, said during his bank's annual outlook webinar that he won't be paying much attention to the Federal Reserve in 2025. Economists at the bank expect the U.S. central bank to cut interest rates only once next year.

He also pays more attention to central bank demand than the opportunity cost of real yields, said the macro investment strategist at Tanglewood Total Wealth Management. Analysts are also paying attention to emerging market consumer demand. In early 2024, gold prices were boosted by record central bank purchases and unprecedented demand from Asian consumers and investors, primarily China.

World gold prices increased slightly as the USD decreased. Recorded at 9:35 a.m. on December 26, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 107.940 points (down 0.08%). According to the World Gold Council (WGC), central banks' demand for gold has reached its highest level in more than ten years. This is a clear demonstration of gold's solid position as a safe haven asset, especially when the global geopolitical and economic situation continues to be unstable. At the same time, loose monetary policies and a slower pace of interest rate hikes from central banks have also contributed to creating positive momentum for gold prices.

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