Gold Investment Trends for 2024: Market Insights and Strategies - Business

Gold Investment Outlook

Gold has been a popular investment choice amidst global uncertainties and expectations of interest rate cuts in the U.S. According to ING commodities strategist Ewa Manthey , gold has seen an 18 % increase year - to - date , driven by central bank buying and Asian consumers . Manthey predicts that gold will maintain its upward momentum after a consolidation phase , with a forecast of , 380 / oz in Q3 and peaking at , 450 / oz in Q4 , resulting in an annual average of , 301 / oz . This positive outlook is further supported by the ongoing strength in central bank buying and consistent positive fund flows into global gold ETFs.

 Geopolitics will remain one of the key factors driving gold prices ... [ and ] the U.S. presidential election in November and the long - awaited U.S. Fed rate cut will also continue to add to gold 's upward momentum through to the end of the year , " Manthey wrote

Gold Investment Trends for 2024: Market Insights and Strategies

Gold Price Predictions by JP Morgan

JP Morgan , a leading investment bank , has revised its price prediction for gold in 2024 following recent market fluctuations . The forecast for gold prices in 2024 was initially impacted by fears of a recession in the US , causing a brief stock market crash . However , gold prices have since remained steady , hovering around , 412 , with a positive outlook for the future . JP Morgan predicts that gold prices could reach a new all - time high of , 500 by the end of 2024 , providing investors with a potential return on investment of approximately 3.7%.

 The direction of travel is still higher over the coming quarters , forecasting an average price of , 500 in the fourth quarter of 2024 , wrote JP Morgans Gregory Shearer , the Head of Base and Precious Metals Strategy

Gold as a Hedge and Investment Option

Gold continues to be a strong choice for investors seeking a hedge amid turbulent geopolitics and economic uncertainties . SaxoBank 's Ole Hansen emphasized the positive view on gold as a diversifier hedge against market turmoil , particularly if the Federal Reserve initiates interest rate cuts . With the potential for rate - sensitive investors to return to gold through ETFs , the outlook for Gold as an investment option remains favorable in the current economic climate.

In conclusion , the forecast for gold in 2024 remains optimistic , with expectations of continued central bank buying strength and positive fund flows supporting the upward momentum of gold prices . Investors are monitoring geopolitical developments , the US presidential election , and the potential Fed rate cut as key factors influencing the future trajectory of gold as an investment asset.