As the Fed Rate Cycle Nears End, Investors Say They’ll Stick With Gold

Gold remains in demand among money managers, with none planning to reduce their exposure over the next year, despite the metal’s recent price dip. A survey from Bloomberg News indicated a prevalent optimism regarding gold’s price prospects for 2024. Many predict a rise in prices, with some even forecasting an all-time high. Key factors influencing gold’s allure include uncertainties in the global economy, geopolitical tensions, and its reputation as a diversification tool in investment portfolios. Current gold price sits near $1,900 an ounce, with some experts, like Darwei Kung of DWS Group, projecting a record peak at $2,250 an ounce in the foreseeable future.