Gold prices rebounded on Thursday, and factors such as the U.S. deficit and geopolitical risks are expected to contribute to its continued rise
2024-09-19 14:33:17
Thursday gold prices rebound U.S. deficit geopolitical political risks factors expecteddesk3cryptocurrencydesktopCrypto News
On September 19th, the price of gold rebounded on Thursday. Alex Ebkarian, chief operating officer of Allegiance Gold, said: The market is considering deeper and more interest rate cuts because the United States has fiscal and trade deficits, which will further weaken the overall value of the dollar. < b > If you combine geopolitical risks with the current deficit in the United States, low yield environment and a weaker dollar, all of these factors combined are what are causing gold to rise. In our opinion, this rally could go further. Our goal is to reach $2,700/oz by mid-2025. In addition to short-term risk drivers, we expect gold ETF demand to increase in the coming months.
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