Central bank demand for gold has been the most important driver of the precious metal's impressive price rally this 2024, and according to one research firm, this trend is not going away anytime soon.
The price of gold at the end of August this year was $2,521.55 per ounce, up 3% from the previous month. The silver price at the end of the month was $29.46, up 1.4% from the previous month.
Gary Wagner, senior analyst at TheGoldForecast, shared his gold price forecast in an interview with Investing News Network, using technical analysis to explain how the yellow precious metal could rise to $2,700 an ounce by the first quarter of 2025.
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