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Gold reaches historic high – $2700!

Gold reaches historic high – $2700!

21 October 2024

Gold reaches historic high – $2700!Gold prices (XAUUSD) have reached a new all-time high, surpassing $2700 per ounce for the first time in history! The yellow metal, which has been rising for nine consecutive months, received fresh momentum in September from the Fed’s rate cut. Silver (XAGUSD) hasn’t been left behind either, and is currently trading at highs not seen since 2012. Prices are now around $32.30 per ounce, with silver’s growth this year increasing to 35%!

On November 21, 2023, we first alerted traders to the immense potential of precious metals. Less than a year has passed, and the returns since our forecast have reached 36%! After reaching yet another historical high, gold shows no signs of slowing down.

Gold reaches historic high – $2700!

Factors driving precious metal price growth and expert opinions:

  • Major purchases by central banks: Gold prices are rising due to significant metal purchases by central banks, increasing its value.
  • Geopolitical instability: Escalating geopolitical instability, particularly in the Middle East, is driving demand for metals as safe-haven assets. Ongoing conflicts in various regions also contribute to rising gold and silver prices.
  • Expectations of a Fed rate cut: Investors are anticipating a possible interest rate cut by the U.S. Federal Reserve, making metals more attractive as investment tools. According to CME data, the probability of a rate cut at the upcoming Fed meeting on November 7 stands at 92.3%, increasing the appeal of precious metals as investments.
  • Growth forecasts: Analysts predict that gold prices could reach $2850 per ounce by the end of the year and $3100 in the long term.
  • Projections by major financial institutions: ING and other financial organizations expect gold prices to peak in the fourth quarter of this year, with potential prices reaching up to $2900 per ounce by mid-2025.

 

Read quality analytics and profit with us!

We offer the chance to trade over 13 contracts on precious metals with a favorable leverage of 1:1000!

Gold reaches historic high – $2700!

Also in celebration of our anniversary, we’ve launched a special challenge where you can earn Freshirecoin – our internal currency that later can be exchanged for real funds. Don’t miss out!

If you have any questions, don't hesitate to contact us:

 

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