GOLD NEWS

World Gold Council sees market uncertainty raising metal’s price

Fri Aug 09 2024

Despite gold’s strong performance in the year’s first half, Western investors largely remained on the sidelines, Joe Cavatoni, senior market strategist for the World Gold Council, said in an interview.

He sees several trigger points that could prompt gold to move even higher, perhaps stirring more interest from retail investors.

“The strength of the dollar, where rates are, where real rates are in the Western markets – that could be the catalyst to bring the Western investor back to add allocations to gold,” Cavatoni said last month during the Rule Symposium in Boca Raton, Florida.

Even with high metal prices, demand for jewellery remains elevated, especially in key markets such as India and China, he said. Also, central banks continue to show strong interest in gold as a haven from global economic challenges.

Source: https://www.mining.com/