The ounce of gold closed the year 2024 with a rise of 27%, reaching its all-time highs at almost $2,800, which was the most bullish year in the last 14 years. and in This 2025 has everything in its favor to exceed 3,000according to firms such as Bank of America or JP Morgan, which believe that the precious metal will be able to reach this new milestone by the end of this year. However, the general consensus opinion that reflects Bloomberg He is not so optimistic, and believes that this level will not be reached until 2028. Specifically, for this year the consensus expects the metal to reach $2,713.
The three factors that boosted gold in 2024 will continue to be present in the current year. On the one hand, large purchases by central banks to increase their balance sheets; on the other, the flexibility of monetary policies and, thirdly, its role as a safe haven asset in volatile market contexts. From current prices, gold should rise 13% to reach $3,000 per ounce.
In the first days of 2025, gold has already appreciated by around 0.7%. Last week, he marked his biggest rise since Novemberas the widespread sentiment of risk aversion boosted demand for safe-haven assets.
“Gold’s strong gains last year, which have seen the precious metal reach a succession of all-time highs, may indicate a possible change in market dynamics, given that they have occurred despite a strong US dollar and rising the real yields of Treasury bonds, factors that have traditionally been headwinds for this asset”, they indicate from BloombergIntelligence.
“Gold protects against bad inflation related to irresponsible fiscal and monetary policy, which leads to a loss of confidence in a currency and results in massive devaluation,” explains Carsten Menke of Julius Baer.
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