Gold Prices Poised to Hit Record Highs in 2024 Amid Central Bank Buying, China Demand Surge, and Geopolitical Tensions
• Central bank buying of gold continues at a "breakneck pace", nearing 2022's record highs • A "confluence of factors" expected to lift prices to new highs, including potential Fed easing, a weaker dollar, and sustained safe-haven demand • Geopolitical tensions spreading globally, with BRICS nations adding to gold reserves • China's gold demand remains very strong ahead of Lunar New Year, when demand typically surges • Strong support for prices above $2,000 from central bank and China's demand amid geopolitical tensions