Gold rally hits fever pitch as price could reach $US6,000 an ounce
The precious metal could double in price as central banks continue to cut interest rates.
Gold has smashed the returns of the stock market so far in 2024, with experts predicting the price still has plenty to run.
Gold bullion (or bricks of the precious metals) surged again this week, up to $US2,700 ($AU4,070) per ounce last week for the first time and is now up 31 per cent since January.
“There is a reality where gold could be reaching $US6,000 an ounce if history repeats itself.
While history doesn’t repeat, it does rhyme,” Moomoo’s market analyst Jessica Amir said to NewsWire.
According to the experts, the price of gold is rallying off the back of a number of factors, most telling the US cutting interest rates.
More: https://www.news.com.au/finance/bus...e/news-story/0b572f64c683653268ee898c0fc34c9c
The precious metal could double in price as central banks continue to cut interest rates.
Gold has smashed the returns of the stock market so far in 2024, with experts predicting the price still has plenty to run.
Gold bullion (or bricks of the precious metals) surged again this week, up to $US2,700 ($AU4,070) per ounce last week for the first time and is now up 31 per cent since January.
“There is a reality where gold could be reaching $US6,000 an ounce if history repeats itself.
While history doesn’t repeat, it does rhyme,” Moomoo’s market analyst Jessica Amir said to NewsWire.
According to the experts, the price of gold is rallying off the back of a number of factors, most telling the US cutting interest rates.
More: https://www.news.com.au/finance/bus...e/news-story/0b572f64c683653268ee898c0fc34c9c