Gold and silver traded higher slightly on Wednesday — at $2,655 an ounce and $31.40, respectively — as investors took note of increasing political tensions in France and Korea, adding to an already tumultuous 2024.
South Korean President Yoon Suk Yeol declared Tuesday night the country would be placed under martial law before removing the order hours later. In France, a political movement seeking to oust President Emmanuel Macron is gaining traction amid growing unrest related to domestic policy, including new pension reforms.
Precious metals prices are down more than 5% from record highs following an intensive dollar rally after the election of Donald Trump to the U.S. presidency.
Banks believe $3,000 an ounce is coming
Many major banks are calling for returns to all-time highs and beyond.
JPMorgan holds a positive view of gold and is calling for prices to reach $2,950 an ounce by the fourth quarter of 2025. Goldman Sachs has shown similar expectations and has called for $3,000 an ounce after next year.
Bank of America Global Research Commodities and Derivatives Head Francisco Blanch spoke to Bloomberg TV on Wednesday and said he is also expecting gold to reach a level of $3,000 an ounce by December 2025.
World Gold Council CEO David Tait said, “I do believe that the amount of debt that’s going to be piled on the U.S. economy and perhaps those of Europe and the rest of the world as well is the thing that really underlies the underlying strength of gold.”
He also made a call for $3,000 an ounce by 2025, citing strong demand from Japan, China and India. Augusta Precious Metals(Full Review) $0 (10 Years) $50,000 "Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings Goldco (Full Review) Vary $25,000 Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee American Hartford Gold (Full Review) Vary $10,000 American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison..Don't miss out on the opportunity to invest in Gold & Silver. Check out our featured companies today: (Ad)
Expand Details
Renowned for its exceptional customer service and commitment to transparency, Augusta Precious Metals has garnered numerous accolades, including "Best Overall" from Money magazine and "Most Transparent" from Investopedia. The company's dedication to educating and supporting its clients has earned it top ratings from organizations such as A+ from BBB and AAA from BCA.Expand Details
From precious metals iras to direct purchases of gold and silver, goldco have helped thousands of americans place over $2 billion in gold and silver. Top-rated precious metals company rated A+ by the better business bureau rated triple a by business consumer alliance earned over 6,000+ 5-star customer ratings Money.Com 2024 best customer service 2024 inc. 5000 regionals: pacific ranked #17 2024 gold stevie award, fastest growing company inc. 5000 award recipient, 8+ yearsExpand Details
With over $2 billion in precious metals sold, American Hartford Gold helps individuals and families diversify and protect their wealth. Their expert team provides investors with the latest market insights and a historical perspective, ensuring informed decisions. Trusted by public figures and praised for exceptional customer service, the company offers competitive pricing on top-tier gold and silver coins, backed by a 100% customer satisfaction guarantee
