Gold prices are soaring to record highs, with experts predicting that the price of gold will average $2,500 per ounce in the fourth quarter of 2024. Despite already sharp gains, JPMorgan believes the bull case for gold remains intact, fueled by hopes of Federal Reserve rate cuts and a potential Trump victory.
Investors are closely watching the gold market as prices surge above $2,460 per ounce, driven by expectations that the Federal Reserve will soon cut interest rates. Traders are analyzing the situation as they ponder their next moves, speculating on whether the Fed will pivot towards a more accommodative monetary policy.
With gold prices continuing to climb, analysts predict that more records will be broken in the future. Market watchers are closely monitoring the situation, noting that the circumstances surrounding gold prices look favorable for further increases. The combination of Fed rate cuts and a potential Trump victory are contributing to the bullish sentiment surrounding gold prices.