World Gold Council Report
The World Gold Council, in its report titled “Gold Mid-Year Outlook 2024,” stated that purchases by central banks, inflows into Asian investment funds, and geopolitical uncertainties have supported gold prices.
Current Economic Conditions
The report notes that inflation rates have remained “relatively” high, but central banks are preparing to cut interest rates. It adds, “However, things rarely go as planned, and the global economy, much like gold, seems to be waiting for a driving force.”
Gold Price Increase
It was mentioned that the price of gold per ounce increased by 12% year-on-year in the first half of the year, indicating that “it outperformed most asset classes.”
Potential Risks
The report pointed out that interest rate cuts in developed countries could be a driving force for gold, but it also highlighted various risks associated with gold. It emphasized that a decline in global demand could negatively impact gold prices.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
