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World Gold Council: Gold ETFs and over-the-counter (OTC) investments will benefit from the macroeconomic winds in 2025, and central banks will continue to maintain (gold purchase) policies. Although demand for gold bars and coins is strong, it may slow down in some major markets, and continued strong gold prices may further erode jewelry consumption. Supply may see annual growth, while supporting conditions for scrap metal recycling and mineral production.1. The trading volume of WTI crude oil futures was 1,314,987 lots, a decrease of 154,512 lots from the previous trading day. The open interest was 1,764,284 lots, a decrease of 16,273 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 199,904 lots, a decrease of 25,003 lots from the previous trading day. The open interest was 162,488 lots, a decrease of 11,811 lots from the previous trading day. 3. The trading volume of natural gas futures was 493,509 lots, a decrease of 264,236 lots from the previous trading day. The open interest was 1,560,504 lots, a decrease of 11,626 lots from the previous trading day.On February 5, the World Gold Council said in a new report on gold demand trends that total gold demand in 2024 increased by 1% year-on-year to an all-time high of 4,974.5 tons. Driven by record prices brought about by geopolitical and economic uncertainty and investors search for safe-haven assets, the value of this demand soared to $382 billion. Gold demand reached a record $111 billion in the fourth quarter. Louis Street, senior market analyst at the World Gold Council, said: "Geopolitical uncertainty remains high, which will always be a factor supporting investment in gold, whether it is shifting from concerns about military conflict to uncertainty in trade conflicts." The report said that geopolitical and economic uncertainty will remain high in 2025, and it seems very likely that central banks will once again use gold as a stable strategic asset.World Gold Council: Total gold supply to 2024 grows at 1% per year as both ore supply and recycling grow. Preliminary estimates show that ore production peaked at 4,974 tonnes in our data series.World Gold Council: Gold jewelry consumption fell 11%, hit by record high prices. On the other hand, demand soared to a record $144 billion.

Gold Prices Trend Forecasts 2024

TOP1 Markets Analyst

Jan 16, 2024 17:11

According to the latest analysis by Greg Shearer, head of global commodities research at JPMorgan Chase, the outlook for the gold market is promising, with the average gold price expected to reach approximately US$2,175 per ounce in the fourth quarter of 2024. He believes that the U.S. central bank may begin to lower interest rates in mid-2024, and once the U.S. economy experiences a recession, gold will have greater room to rise. The weaker the U.S. economy is, the deeper the rate cuts will be, which will provide stronger support for gold. Sourcenia is a review portal of sourcing best manufaturers. 


French Bank Wealth Management's latest bi-weekly report: Gold is bullish! The central banks of emerging markets are rushing in, the US dollar is weakening, and real yields are falling. These are all bullish factors. The price of gold is expected to climb to between US$1,950 and US$2,050 per ounce.


In a recent interview with the media, Pierre Lassonde, the honorary chairman of the French Nevada Mining Company, boldly predicted that the U.S. dollar will weaken in 2024, and gold will usher in a wave of gains. He said the U.S. dollar and gold move in opposite directions, so a peak in the U.S. dollar means gold is bullish. He believes this is an important reason why he is optimistic about gold prices in 2024.

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