The 7 “analysts” who forecast in writing that the price of gold would rise to somewhere between $3,329 and $3,400/ozt. by the end of this year (see here) are not going to be anywhere close in their predictions (guesses?). Will the 6 “analysts” who expect gold reaching $3,500 per troy ounce sometime in 2024 be more accurate?Below are the analysts’ targets for 2024 and their rationale for such high prices:
- “I think we’ll set a new record in real terms, exceeding $3,000/ozt., by 2024, or so.” Source
- “I am betting that gold hits $3,000 per troy ounce by mid-2024. Source
- “Every time we look at the price of gold, we take one step closer to realizing our prediction of the $3,000-$3,500/ozt. price target in 2024 and we are not ruling out a trip to $5,000 by 2025.” Source
- “Gold will hit my $4,000 per troy ounce target by the end of 2024.” Source
- “Gold at $5,000/ozt. seems plausible, and it is likely to continue to go higher after that.” Source
- “Gold…will hit $5,500 per troy ounce in 2024 and then enter a bull trap with fear driving gold down below $4,000 and then return to its mean at about $1,500 to $2,000.” Source
Average Forecast For 2024: $3,500/ozt. More By This Author:These 10 AI Stocks Have The Best PEG Ratio Values Going Into 2024
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