2024 has witnessed gold reaching all-time highs, marking a significant milestone in the yellow metal’s performance. Despite a strengthening dollar following Donald Trump’s victory in the recent US elections, gold has remained resilient and continued its upward trajectory.
David Tait, CEO of the World Gold Council, attributes gold’s ongoing strength to the anticipated debt burden resulting from Trump’s economic policies. Tait believes these policies could lead to inflation and exacerbate yield curves, further supporting the case for gold as a safe haven asset.
Tait highlighted that the inflationary impact of anti-tariff policies and increased government spending in the US would bring the rising debt burden into sharp focus. This, he suggests, will strengthen gold’s appeal as investors seek protection from potential economic volatility.
Looking ahead, Tait predicts that gold could reach $3,000 an ounce by 2025. He sees strong demand from major economies, including Japan, China, and India, driving gold prices higher in the coming years.
On December 03, 2024, Gold prices saw an increase both internationally and locally. In the global bullion market, the price of gold per ounce rose by $7, reaching $2,640. The growing gold prices reflect the ongoing fluctuations in global markets and have an impact on local gold buyers and sellers.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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