PALM BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Gold, often referred to as the "safe-haven asset," has been a cornerstone of global finance for centuries. Its value has historically been influenced by a myriad of factors, including economic indicators, geopolitical events, and market sentiment. According to expert analysts in a report by Skilling.com, the gold price prediction for 2024 is expected to be positive, with prices potentially reaching $2,500 per ounce. This is driven by the Federal Reserve's monetary policy, interest rates, and global demand for safe-haven assets. Some experts predict that gold will trade in the range of $2,800-$3,200 in 2025, reflecting expectations of a Federal Reserve rate cut. The report said: “In the long term, the gold price prediction is influenced by factors such as inflation, central bank policies, and global economic trends. Analysts predict that the price of gold could reach $6,800 an ounce by 2040, estimating a rate of return of 7.2% per year. The increasing demand for gold as a safe-haven asset and the potential for a global recession are also driving factors behind the positive gold price prediction. Gold prices have been on a steady rise since 2023, with many analysts predicting a continued upward trend in 2024. According to J.P. Morgan Research, gold prices are expected to climb to $2,500/oz by the end of 2024, driven by factors such as U.S. fiscal deficit concerns, central bank reserve diversification into gold, inflationary hedging, and a fraying geopolitical landscape. This prediction is in line with other analysts' predictions, with some predicting even higher prices, such as AG Thorson's target of $3,000.” Active mining companies in the markets this week include RUA GOLD Inc. (OTCQB: NZAUF) (TSX-V: RUA), Newmont Corporation (
NYSE: NEM) (TSX: NGT), OceanaGold Corporation (OTCQX: OCANF) (TSX: OGC), New Found Gold Corp. (
NYSE: NFGC) (TSX-V: NFG), GoldMining Inc. (NYSE American: GLDG) (TSX: GOLD).
