News Digest:

Gold prices are expected to reach new all-time highs over the next year, according to a survey conducted at a major annual bullion industry event. In 2024, gold has emerged as one of the top-performing commodities, driven by its status as a haven, its use for wealth diversification, and strong demand from central banks.

Last month, gold peaked above $2,685 per ounce, buoyed by the Federal Reserve’s shift toward interest rate cuts. The metal, which doesn’t generate yield, typically performs better in low-rate environments. As of 8:41 a.m. in London on Wednesday, 16th October, spot gold was trading 0.5% higher at $2,674.79 an ounce. Silver, palladium, and platinum also posted gains.