Gold set to rally further this year, say Wall Street banks

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Financial Times 6d ago

Gold set to rally further this year, say Wall Street banks - Financial Times

Quick Summary:

Global central banks bought 694 tonnes of gold during the first nine months of 2024.

Falling US interest rates have contributed to gold’s rally in the second half of last year, and the pace of further cuts could be crucial to the outlook for the yellow metal.

Interest rate cuts by the US Federal Reserve, concerns about growing US government debt levels under president-elect Donald Trump and conflicts in the Middle East and Ukraine are also forecast to lift prices.