World gold price December 15, 2023
Updated
World gold prices today continued to increase with spot gold increasing by 11.9 USD to 2,035.8 USD/ounce. Gold futures last traded at 2,050.9 USD/ounce, up 11.3 USD compared to yesterday morning.
The Federal Reserve's signal that interest rates will fall in 2024 has created some good momentum in the gold market, and that should lead to record high prices in the new year, according to one market strategist. .
In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors said that although gold prices have recently peaked, there is still plenty of room in the market to push prices higher. again.
“As gold finds momentum, there is no telling how high the price can go,” he said. There is a very good chance we will hit an all-time high next year.”
The Federal Reserve's signal that interest rates will fall in 2024 has created some good momentum in the gold market, and that should lead to record high prices in the new year, according to one market strategist. .
In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors said that although gold prices have recently peaked, there is still plenty of room in the market to push prices higher. again.
“As gold finds momentum, there is no telling how high the price can go,” he said. There is a very good chance we will hit an all-time high next year.”
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World gold price todayWorld gold prices this morning tended to increase with spot gold increasing by 2.3 USD compared to last week's closing level to 2,022.2 USD/ounce.
Volatility in the gold market this week is said to be difficult to predict as investors continue to evaluate the US Federal Reserve's (Fed) updated economic forecasts announced at its final policy meeting. in 2023. In addition, investors and traders will also be watching a number of important reports, including the personal consumption expenditure index to be released on Thursday. If the report shows Inflation continues to cool down, which will strengthen the possibility that the Fed will cut interest rates next year and push gold higher. On the contrary, a rising inflation scenario will put pressure on gold.
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