Gold prices likely to rise in September due to central bank buying, economic uncertainty, and industrial demand.
Gold prices are expected to rise in September due to several factors, including central banks' aggressive buying of gold to diversify their reserves away from traditional currencies, economic and geopolitical uncertainty driving gold's safe-haven status, strong central bank demand for gold, and gold's status as a hedge against global economic risks. Investor appetite for gold remains high, with gold prices nearing record highs at over $2,500 per ounce and expectations of an imminent interest rate cut from the US Federal Reserve. Additionally, expanding industrial demand for gold contributes to long-term support for gold prices.
August 26, 2024
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