Gold price expected rise in 2024

Monitoring today's gold price movements via Ticktrader FXOpen, it appears that the price is forming a small-body bull candle with a long shadow on the top candle. This means that after the gold price rose to a high of 2055.93, it was corrected down to 2039.27.

The price of gold seems to have started to rise since January 25 by forming a higher rising pattern. Gold is believed to be a store of value for centuries amidst high monthly commitment costs due to high-interest rates. Gold has managed to overcome inflation and be safe haven asset.

According to a Reuters poll reported by the FXOpen blog, gold prices are expected to rise in 2024 if the anticipated interest rate cut is officially announced.

The volatility of gold prices is high, so it provides equal profit and risk potential, so it is necessary to wait in the safest possible zone to enter the market, and always be disciplined in implementing risk management with rational targets.

 According to the expert reviews,the gold market in the year 2024, expected to be potentially bullish ; most analysis project the price to probably surpass,$2000 and,$3000 per ounce, in the 2024/2025 respectively.

 Central bank buying,geographical appreciatiion and politics, industrial demand e.t.c. are the factors that are considered to be in favorable direction. You may start hoarding by now.

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Good news! My mother was a fan of golden jewels and I inherited her trend. The risk due to the volatility of the price can be overcome if we hold the asset (whether bars, whether golden jewels) until the gold value skyrockets. It' a very long term investment. I still own the golden watch that belonged to my mother since her youth. This golden watch counts now more or less 65 years.