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Market uncertainty, recession risks could pave way for record gold prices in 2024

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Uma Devi

Uma Devi

Published Fri, Dec 15, 2023 · 05:00 AM
    • Robin Tsui, gold strategist for Asia-Pacific at State Street Global Advisors, says central banks have bought a net 800 tonnes of gold for the first nine months of 2023, the highest on record. 
    • Robin Tsui, gold strategist for Asia-Pacific at State Street Global Advisors, says central banks have bought a net 800 tonnes of gold for the first nine months of 2023, the highest on record.  PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    GOLD has enjoyed an outstanding year so far, as geopolitical tensions, recessionary risks and central bank action raise demand for a hedge against uncertainty.

    Spot gold prices have risen 10.6 per cent this year to close on Dec 14 at US$2,038.81 per ounce, and gold futures have advanced 11 per cent to US$2,052 per troy ounce.

    Market watchers believe that there is room for gold to advance in 2024, possibly even surpassing previous records.

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    GoldOutlook 2024

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