Following my bullish HL stock outlook, Gold prices reached an all-time high of $2,135.39 per ounce in December 2023, driven by a weak U.S. dollar and anticipation of Federal Reserve rate cuts, highlighting the impact of monetary policy and economic indicators on gold's value. As we look into 2024, adjustments in the Fed's interest rates and U.S. real yields are expected to be key drivers. Technical analysis reveals a move into low volume areas with aggressive buying, suggesting a potential push to December highs and a forecasted peak of $2,300 per ounce by 2025. Despite a short-term dip prediction, the long-term outlook remains bullish, urging investors to closely watch the Fed's policies, dollar performance, and technical patterns for opportunities amidst volatility.
Following my bullish HL stock outlook, Gold prices reached an all-time high of $2,135.39 per ounce in December 2023, driven by a weak U.S. dollar and anticipation of Federal Reserve rate cuts, highlighting the impact of monetary policy and economic indicators on gold's value. As we look into 2024, adjustments in the Fed's interest rates and U.S. real yields are expected to be key drivers. Technical analysis reveals a move into low volume areas with aggressive buying, suggesting a potential push to December highs and a forecasted peak of $2,300 per ounce by 2025. Despite a short-term dip prediction, the long-term outlook remains bullish, urging investors to closely watch the Fed's policies, dollar performance, and technical patterns for opportunities amidst volatility.