The World Gold Council is predicting a unique shift in the gold market post-2024. This forecast comes from a diverse team of journalists with expertise in various fields like the economy, commodities, cryptocurrencies, and metals. They collaborate to provide crucial financial information for better market decision-making.
This prediction is expected to have a significant impact on future investment opportunities by focusing on global trends affecting the value of gold. With a better financial understanding, investors can potentially make more informed decisions.
Niels Christensen, an experienced financial journalist, offers valuable insights into the dynamics of the gold market. His ability to analyze market risks and opportunities is highly respected.
Recent data indicates a decline in the U.S. ISM PMI to 48.5, resulting in lower gold prices. Despite this, central banks continue to make consistent purchases, acquiring only 10 tonnes of gold in May.
Pivotal changes in the gold market after 2024
There are signs of China increasing its pace of gold acquisitions due to high demand from their thriving markets.
Analysts see the current state of the gold market as a period of relative calm before an anticipated wave of change. An upcoming rise in U.S. Treasury yields is expected to have a significant impact on the gold and silver markets. Therefore, stakeholders in these markets must stay vigilant and adaptable in response to these potential shifts.
As interest grows in Federal Reserve Chair Powell’s perspective on the market landscape, his views will heavily influence the direction of the gold market in the latter part of 2024. If his economic outlook favors strong monetary policies, it could discourage investors from holding onto gold, leading to a decrease in its market value. Conversely, any market uncertainties may drive investors back to gold as a safe haven, potentially boosting its value.
