{"id":49559,"date":"2024-12-26T20:49:58","date_gmt":"2024-12-26T20:49:58","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts"},"modified":"2024-12-26T21:24:42","modified_gmt":"2024-12-26T21:24:42","slug":"gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts","title":{"rendered":"Gold likely to continue bull run next year on strong demand: Experts"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mauritius. <\/strong><\/span>Gold soared to all-time highs in 2024, hitting a record $2,790 per ounce in October, with strong demand for the precious metal expected to continue next year as one of the main safe-haven assets, led by geopolitical risks, central bank purchases and the US Federal Reserve\u2019s rate cut cycle.<\/p>\n<p>Gold ended last year around $2,062 and was trading at $2,620 as of Wednesday, an increase of 27%, while the performance of these prices marked the best return on gold since 2010.<\/p>\n<p>Gold broke records 40 times on an annual basis as total gold demand exceeded $100 billion for the first time in the third quarter of 2024.<\/p>\n<p>Having risen to an all-time high in October, the ounce price ended the month at $2,743, up 4.15%.<\/p>\n<p>The ongoing wars in Ukraine and Palestine as well as tensions with Iran caused an upward trend in gold demand. Political uncertainties before and after the US presidential election in November also pushed gold prices upwards, while strong demand in Asia contributed to the price hikes.<\/p>\n<p>Geopolitical and political uncertainties and turmoil give rise to gold prices, experts say.<\/p>\n<p>A recent report by the World Gold Council said that demand for gold rose on risks and volatility.<\/p>\n<p>Ewa Manthey, commodities strategist at ING, told Anadolu that the general bull market outlook and safe-haven feature of gold and central bank purchases will carry gold to even higher records in 2025.<\/p>\n<p>\u201cThe inflationary impact of (US President-elect Donald) Trump\u2019s policies could lead to fewer (interest) rate cuts than previously expected,\u201d she noted.<\/p>\n<p>Manthey said that central banks continued to increase their gold reserves despite a slowdown in the third quarter.<\/p>\n<p>\u201cIt is now looking likely that the full-year total will fall short of that seen over the previous two years. Looking ahead into next year, we expect central banks to remain buyers due to geopolitical tensions and the economic climate,\u201d she said.<\/p>\n<p>Manthey highlighted that she expects the positive momentum of gold to continue in the short and medium term.<\/p>\n<p>\u201cThe macro backdrop will likely remain favorable for the precious metal as interest rates decline and foreign-reserve diversification continues amid geopolitical tensions, creating a perfect storm for gold,\u201d she said.<\/p>\n<p>She emphasized that Trump\u2019s protectionist policies, tariffs and immigration control could create further inflationary pressure, limiting the Federal Reserve\u2019s rate cuts, while a stronger dollar and tighter monetary policy could provide some resistance to gold, estimating an average price of $2,760 per ounce next year.<\/p>\n<p>Juan Carlos Artigas, global head of research at the World Gold Council, told Anadolu that global geopolitical uncertainties could provide the environment for gold to rise further next year.<\/p>\n<p>\u201cFor gold, 2025 will be a tale of two halves. First, we may experience more risk-on appetite as we wait for strategic and tactical drivers to unravel, leading to more clarity and direction for gold\u2019s performance later in the year,\u201d he said.<\/p>\n<p>\u201cThis could really ring true if there is a significant drop in interest rates or a marked increase in market volatility to further fuel investor interest. We also expect global central bank demand and Asian markets to continue playing a pivotal role,\u201d he added.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Mauritius<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. Gold soared to all-time highs in 2024, hitting a record $2,790 per ounce in October, with strong demand for the precious metal expected to continue next year as one of the main safe-haven assets, led by geopolitical risks, central bank purchases and the US Federal Reserve\u2019s rate cut cycle. Gold ended last [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":49558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5285,5270,1202,5286,241,321,2886,3842],"class_list":["post-49559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-ewa-manthey","tag-geopolitical-risks","tag-gold","tag-juan-carlos-artigas","tag-mauritius","tag-prices","tag-us-federal-reserve","tag-world-gold-council"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gold likely to continue bull run next year on strong demand: Experts - Mauritius<\/title>\n<meta name=\"description\" content=\"Gold soared to all-time highs in 2024, hitting a record $2,790 per ounce in October, with strong demand for the precious ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold likely to continue bull run next year on strong demand: Experts\" \/>\n<meta property=\"og:description\" content=\"Gold soared to all-time highs in 2024, hitting a record $2,790 per ounce in October, with strong demand for the precious ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-26T20:49:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-26T21:24:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/12\/sm_1735235200.735316.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Gold likely to continue bull run next year on strong demand: Experts\",\"datePublished\":\"2024-12-26T20:49:58+00:00\",\"dateModified\":\"2024-12-26T21:24:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\"},\"wordCount\":538,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/12\/sm_1735235200.735316.jpg\",\"keywords\":[\"Ewa Manthey\",\"geopolitical risks\",\"gold\",\"Juan Carlos Artigas\",\"Mauritius\",\"prices\",\"US Federal Reserve\",\"World Gold Council\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-likely-to-continue-bull-run-next-year-on-strong-demand-experts\",\"name\":\"Gold likely to continue bull run next year on strong demand: Experts - 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