10:51 - 16.10.2024

---

October 16, Fineko/abc.az. The price of gold is expected to reach record levels next year.

ABC.AZ reports that this follows from a survey of participants at a major annual precious metals industry event in Miami. Members of the London Precious Metals Market Association forecast prices to rise to $2,917.40 per ounce by the end of October next year, which is about 10% higher than current levels, Bloomberg reports.

A survey conducted over two days among traders, refiners and miners shows optimistic expectations for gold, which is already one of the most efficient commodities in 2024. Its popularity as a safe asset, a means for diversification and active purchases by central banks contribute to price growth. The last peak was recorded above $2,685 per ounce, which was facilitated by a reduction in rates by the U.S. Federal Reserve System.

At 10:14 a.m. in Shanghai on Wednesday, the spot price of gold changed slightly, amounting to $2,663.3 per ounce.