Gold could surpass US$3.1k in 2025, this wealth giant says

InvestorDaily

Gold enjoyed a string of successes in 2024, having seen 41 new closing highs by the end of October, and peaking at a record US$2,778 ($4,472) per ounce that same month. While the yellow metal took a back seat in November, with the US election results seeing investors scramble into risk assets, coupled with a strong US dollar, State Street Global Advisors (SSGA) is confident that the commodity has “room to run” in 2025. “Our base case is for gold to range between US$2,600 and US$2,900 in 2025, with the potential to rise to US$3,100 under certain economic scenarios,” the financial giant said.

According to SSGA, there are a few key reasons to be bullish on gold. First, strong central bank purchases of gold are expected to persist, helping to offset any negative impact a strong dollar might have on price. While central banks have consistently been net buyers of gold for the past 15 years, the pace of their purchases are moving into top gear.

The rest of this article can be found aft investordaily.com.au.