Gold Prices Poised to Soar Above $4,000 as Major Banks Predict Record Highs
Gold prices are set to soar, with major banks predicting a climb above $4,000 per ounce in the near future. This follows a record-breaking year for gold, driven by global uncertainty and strong demand from central banks and investors.
HSBC and Goldman Sachs both anticipate gold's rise, attributing it to ongoing inflation concerns, geopolitical risks, and increased central bank buying, particularly following the freezing of Russian reserves. HSBC expects gold to trade above $4,000 soon and continue climbing through 2026. Goldman Sachs is slightly more cautious, forecasting around $3,700 by the end of 2025 and $4,000 by mid-2026, with potential for higher prices if private investor demand surges.
Gold has already reached an all-time high of $3,896.49 this year, supported by large-scale buying from central banks and investors. UAE buyers are advised to stay patient and be ready to take advantage of any brief dips before the next record high. Both banks expect another strong year for gold, with central banks remaining heavy buyers and possible U.S. rate cuts.
Gold's march to $4,000 seems certain, driven by global uncertainty and strong demand. UAE buyers should time their investments carefully to average out costs and reduce risks. Despite significant price increases in the UAE, gold remains an attractive investment due to its safe-haven status and potential for further gains.
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