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Expect to see gold topping £1,733 in 2024 says expert

Gold prices will hit a new all-time high, topping the charts at £1,734 ($2,200) later this year according to new expert analysis.

Senior analyst Ricardo Evangelista says that all indications are the gold bulls will roar into life when the Federal Reserve begins its rate cutting program. The first rate cut will open up the gates for huge gains, with gold prices then ascending to set new price records throughout the year.

Writing in his new gold outlook briefing note, Evangelista said several other forces will help push gold prices skywards. “In 2024, gold is poised for further gains, driven by expectations of interest rate cuts, geopolitical uncertainties, and global recession fears, maintaining its status as a safe-haven asset with the potential for further record highs,” he explains.

An announcement from the Federal Reserve is expected later today (Wednesday). Current consensus suggests that rate cuts will begin in May, with cuts of around 100 basis points to be deployed through the balance of the year.

Don’t wait for prices to soar. Buy now.

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