Many point to a revival in large inflows to ETFs and expectations of additional interest rate cuts
Major banks expect gold to extend its record-breaking price rally into 2025 because of a revival in large inflows to exchange-traded funds and expectations of additional interest rate cuts from prominent central banks around the world, including the U.S. Fed eral Reserve.
Non-yielding gold has gained nearly $570 an ounce, or over 27%, so far this year, putting it on track for its biggest annual rise since 2010 and positioning itself as one of the standout assets of 2024. The precious metal hit a record high of $2,639.95/oz earlier on Tuesday and has notched record highs several times this year.
The Fed began its easing cycle last week with a half-percentage-point rate cut, and forecast another 50 basis points of cuts by the end of this year and a full percentage point of cuts next year.
Revival Note Fed Cycle Cut Banks Bank J.P. Morgan U.S. Federal Reserve UBS
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