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Gold prices were rising early on as traders await more cues on the path of interest rates in the U.S. Futures were up 0.1% at $2,667.50 a troy ounce, supported by central-bank buying, uncertainties ...
The spot price rose 0.2% to $2,653.21 per ounce, while gold futures inched 0.1% higher to $2,668 per ounce. While rising rates on bonds typically weighs on gold prices, as a non-yielding asset, ...
Central bank purchases continue to support gold prices. In November 2024, global central banks added 53 tons to their reserves.
Goldman Sachs predicts gold could reach $3,000 per ounce by the second quarter of 2026 amid strong central bank demand.
State Street, the world’s fourth-largest asset manager, is betting the rally in gold prices will extend into 2025 in a potential boon for oversold gold stocks.