EUR/USD 1.14449
0.020%
Gold 3979.60
0.080%
Oil 78.906
0.028%
USD/JPY 162.323
-0.025%
GBP/USD 1.34756
-0.021%
GBP/JPY 218.745
-0.018%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. Global semiconductor stocks suffered a massive sell-off on Thursday, with investors questioning the sustainability of the AI-driven rally. The South Korean KOSPI fell over 6%, triggering another circuit breaker during trading; SK Hynix fell over 11%, the Nikkei 225 fell 2.79%, and Kioxia fell 15%. A-shares also saw a significant correction, with the Shanghai Composite Index falling below 3900 points. 2. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.2% to 52,552.97 points, the S&P 500 fell 0.51% to 7,533.77 points, and the Nasdaq Composite fell 1.47% to 25,881.95 points. Goldman Sachs fell nearly 5%, and Google fell over 4%, leading the decline in the Dow. The Wind US Tech Big Seven Index fell 1.31%, with Facebook and Nvidia falling over 2%. SpaceX fell over 3%. Semiconductor and memory stocks also plummeted, with Seagate Technology falling 10% and Western Digital falling over 9%. 3. European stock indices closed mixed. The German DAX index fell 0.34% to 24,915.49 points, the French CAC40 index fell 0.05% to 8,377.86 points, and the UK FTSE 100 index rose 0.54% to 10,572.24 points. 4. International precious metals futures generally closed lower. COMEX gold futures fell 1.77% to $3,979.90 per ounce, and COMEX silver futures fell 2.90% to $55.77 per ounce. 5. The WTI crude oil futures contract closed down 0.03% at $79.58 per barrel; the Brent crude oil futures contract fell 0.11% to $84.86 per barrel.Federal Reserve Vice Chairman Jefferson: If the increased productivity of artificial intelligence can reduce production costs sooner, inflation may face downward pressure.Federal Reserve Vice Chairman Jefferson: The economic shock caused by artificial intelligence may have a lasting impact on supply and demand.Federal Reserve Vice Chairman Jefferson: A series of rapid shocks could cause inflation to solidify and inflation expectations to lose their anchor.Federal Reserve Vice Chairman Jefferson: We cannot look at each factor in isolation; we must consider the overall economy when making policies.

Gold Prices Trend Forecasts 2024

TOP1 Markets Analyst

Jan 16, 2024 17:11

According to the latest analysis by Greg Shearer, head of global commodities research at JPMorgan Chase, the outlook for the gold market is promising, with the average gold price expected to reach approximately US$2,175 per ounce in the fourth quarter of 2024. He believes that the U.S. central bank may begin to lower interest rates in mid-2024, and once the U.S. economy experiences a recession, gold will have greater room to rise. The weaker the U.S. economy is, the deeper the rate cuts will be, which will provide stronger support for gold. Sourcenia is a review portal of sourcing best manufaturers. 


French Bank Wealth Management's latest bi-weekly report: Gold is bullish! The central banks of emerging markets are rushing in, the US dollar is weakening, and real yields are falling. These are all bullish factors. The price of gold is expected to climb to between US$1,950 and US$2,050 per ounce.


In a recent interview with the media, Pierre Lassonde, the honorary chairman of the French Nevada Mining Company, boldly predicted that the U.S. dollar will weaken in 2024, and gold will usher in a wave of gains. He said the U.S. dollar and gold move in opposite directions, so a peak in the U.S. dollar means gold is bullish. He believes this is an important reason why he is optimistic about gold prices in 2024.

Suggestion