Few investments did better in 2024 than gold, which is wrapping up its best year since 2010 and one of its largest annual gains on record. Wall Street's gold bugs think prices will climb even higher in 2025.
Prices for the precious metal are up 27% in 2024 to $2,617.20 a troy ounce. That is better than the S&P 500's 25% gain and not far behind the 31% increase of the technology-stock-laden Nasdaq Composite Index.
Gold futures hit a record ahead of the U.S. presidential election but have declined since then. That was expected, though, as investors who had been nervous about the election's outcome moved money from the haven and back into riskier assets.
Analysts at JPMorgan, Goldman Sachs and Citigroup share a price target of $3,000. Here are some of their reasons:
Lower interest rates
The extent to which the Federal Reserve cuts interest rates remains to be determined, but investors expect further reductions in 2025. The lower rates get, the lower the opportunity cost of owning gold, which pays no interest or dividends.
This story is from the December 31, 2024 edition of Mint Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 31, 2024 edition of Mint Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
CCI's Apple Probe Confirms Anti-Competitive Practices
CCI will share the confidential version of its report with Apple to enable them to prepare
After US, India faces most cyber attacks
India emerged as the second most targeted nation in terms of cyber attacks in the world as 95 Indian entities came under data theft attacks in 2024, cyber intelligence firm CloudSEK said in a report.
Ranjan Pai's family office plans medtech platform
Claypond Capital, the family investment office of Manipal Hospitals head Ranjan Pai, is creating a medtech platform to bet on medical devices and medical technology companies, VCCircle has learnt.
Employment rose 36% to 643.3 mn in past 10 yrs: Minister
Union labour minister Mansukh Mandaviya on Thursday said employment in the country has increased by 36% to 643.3 million in 2023-24 from 471.5 million in 2014-15, which shows improvement in job creation during NDA period.
Mkt Leaders Urge FM To Take Steps To Improve Liquidity
Industry leaders from the capital market and financial sector urged measures to boost liquidity in the market and cut taxes on fixed deposit products in pre-budget consultations with finance minister Nirmala Sitharaman on Thursday.
Apex drugs regulator proposes steps to check spurious drugs
The Central Drugs Standard Control Organisation (CDSCO) plans to further tighten the screws this year on those making and selling spurious and substandard medicines, a widespread problem in India.
Centre sets up panel to reset current WPI series' base year
The move aims to make estimation of economic output adjusted for inflation more accurate
Dumping duty feared to delay projects
India doesn't have considerable solar glass production capacity and is dependent on imports
Indian Art May Be Poised for a Global Breakthrough
Early last year, Delhi-based Rohini Devasher became the first Indian to be recognised by Deutsche Bank as their 'Artist of the Year'. This led to her first major monographic exhibition, Borrowed Light, which opened in Berlin at the Palais Populaire in September and will be on display till early March.
Smart Gnomes, Evil Penguins and Stop-Motion
Wallace & Gromit Are Back for a Full-Length Adventure With a Familiar Foe
