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Gold forecast 2024: Deutsche Bank expects prices to rise to $2,250
According to a report from www.boerse-online.de, gold is forecast to remain a safe haven for investors in 2024 and the price could rise to $2,250 per ounce by the end of the year. The experts at Deutsche Bank point out that gold has already proven to be stable in times of crisis and that geopolitical risks and economic uncertainties still exist. In addition, purchases of gold by central banks in emerging markets could drive up the price. Central banks hold a total of 33,000 tons of gold, an increase of 25 percent compared to ten years ago. Also Dr. Ulrich Stephan, chief investment strategist for private…
Gold forecast 2024: Deutsche Bank expects prices to rise to $2,250
According to a report by www.boerse-online.de, gold is forecast to remain a safe haven for investors in 2024 and the price could rise to $2,250 an ounce by the end of the year. The experts at Deutsche Bank point out that gold has already proven to be stable in times of crisis and that geopolitical risks and economic uncertainties still exist. In addition, purchases of gold by central banks in emerging markets could drive up the price. Central banks hold a total of 33,000 tons of gold, an increase of 25 percent compared to ten years ago. Also Dr. Ulrich Stephan, chief investment strategist for private and corporate clients at Deutsche Bank, emphasizes that gold could face fewer headwinds from interest rates in the second half of the year. In view of war, currency devaluation and interest rate changes, investments in the stock market have become riskier, which is why raw material producers such as Barrick Gold, Cameco, K+S and Rio Tinto as well as companies such as Nestlé are viewed as stable stocks. There are also companies that invest in renewable energies, such as the Norwegian oil company Equinor and the green energy supplier Ørsted from Denmark.
From an economic perspective, Deutsche Bank's forecast indicates continued high demand for gold. Uncertainty in global markets, geopolitical tensions and inflation trends could continue to encourage investors to invest in safe-haven assets such as gold. Increased buying activity by emerging market central banks could also push the price higher. These impacts could lead to a general shortage of gold supply and drive up the price.
With regard to the companies mentioned, which are considered to be stable values, investors may invest more in these companies due to the uncertainties in the markets, which could lead to increased demand for their shares.
Overall, it looks like gold could remain an attractive investment in 2024, with positive effects on the gold market and the companies mentioned.
Read the source article at www.boerse-online.de