Gold Price To Rise 10% in 2024 After Fed Rate Cut Says UBS
With the asset having a rather inconsistent start to the year, the Gold price is predicted to rise 10% in 2024 after Federal Reserve Rate cuts according to UBS. Indeed, the financial service company has noted that a Fed pivot could be the catalyst for the price to increase throughout this year. However, the big question of when the Fed could begin cutting interest rates remains. The expectation of such cuts to take place in March has quieted in recent weeks. Still, the Swiss-based financial services firm is confident that the asset will respond bullishly to the development. Also Read: BRICS Continue Gold Buying Spree in 2024 Gold Price to Get a Boost From Fed Rate Policy Pivot At the tail end of 2023, the price of GOLD went on a historical run. The metal saw its value skyrocket, reaching an all-time high price of $2135 in the middle of December. However, since the new year arrived, the asset has had a hard time continuing the bullish momentum it gathered during the final m...