Gold prices are expected to continue their upward trajectory into 2025, driven by central bank purchases and increased inflows into gold-backed exchange-traded funds (ETFs). Despite being in overbought territory, analysts predict gold will remain strong due to geopolitical tensions, robust demand from China, and anticipated interest rate cuts by the Federal Reserve. Major banks like Goldman Sachs and JP Morgan forecast gold prices to reach around $2,900 per ounce by 2025, citing factors such as a weakening labor market and gold’s role as a hedge against various risks.
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