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Editor’s Note: This is not a “sponsored article” but it clearly lends to the notion that Americans should be backing their retirement accounts with gold and silver. Genesis Gold Group is a faith-driven precious metals company that specializes in financial stewardship aligning with Biblical stewardship. Reach out to them today.
(Discern Reporter)—Gold prices reached a new record on Monday, marking a second consecutive month of gains as the global demand for bullion continues to surge. Spot prices touched $2,100, and analysts predict that gold could maintain its momentum, potentially staying above $2,000 levels next year. Geopolitical uncertainty, a probable weaker U.S. dollar, and potential interest rate cuts are cited as factors supporting the positive outlook for gold.
The ongoing Israel-Palestinian conflict has contributed to increased demand for gold as a safe-haven asset, while expectations of interest rate cuts further bolster the precious metal. Gold has historically performed well during periods of economic and geopolitical uncertainty, given its reputation as a reliable store of value.
Heng Koon How, UOB’s Head of Markets Strategy, Global Economics and Markets Research, anticipates a retreat in both the USD and interest rates throughout 2024, identifying these as key drivers for gold. He estimates that gold prices could potentially reach up to $2,200 by the end of 2024.
Nicky Shiels, head of metals strategy at MKS PAMP, is similarly optimistic about the outlook for gold, noting that there is less leverage this time compared to 2011, suggesting the potential for prices to surpass $2,100 and reach $2,200 per ounce.
Spot gold prices reached a new high of $2,110.8 per ounce on Monday before retracing some gains, currently trading at $2,084.59. Bart Melek, head of commodity strategies at TD Securities, foresees gold prices averaging $2,100 in the second quarter of 2024. He identifies strong central bank purchases as a catalyst supporting prices, with 24% of central banks planning to increase their gold reserves in the next year, expressing growing pessimism about the U.S. dollar as a reserve asset.
Melek also highlights a potential policy shift by the Fed in 2024, suggesting that lower interest rates could weaken the dollar, making gold more attractive to international buyers. The Fed’s gradual rate hikes, initiated in March 2022, aimed at addressing rising inflation, had initially diminished gold’s appeal. However, Fed Governor Christopher Waller’s recent comments about easing policy if inflation eases over the next few months have fueled expectations of a spike in gold prices.
Despite Fed Chairman Jerome Powell’s pushback on aggressive interest rate cuts, indications suggest that the Fed may, at least for now, be done with hiking rates. BMI, a Fitch Solutions research unit, believes that interest rate cuts by the U.S. Fed, a weaker U.S. dollar, and ongoing geopolitical tension will be the main factors supporting gold in 2024.
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‘Merely Coincidental’: Secular Scientist Work Overtime to Explain Away the Miracles of Christ
by Harbingers Daily
Was the miracle of Jesus feeding the 5,000 with just five loaves and two fish a little less than miraculous? Well, that’s what a group of scientists are claiming in a recent paper published in a scientific journal. Instead of a supernatural provision by the Lord, they claim the feeding…
Google Hosts Party for Democratic Operatives Plotting To ‘Resist the Republican Agenda’
by Free Beacon
The resistance’s bar tab is on Google. Priorities USA, a top Democratic super PAC with an affiliated dark money group, is convening a summit of left-wing digital activists on Wednesday afternoon to deliver a post-mortem on Vice President Kamala Harris’s election loss and strategize how to “resist the Republican agenda,”…
“The Correction Before the Surge”: Why Gold and Silver’s Future Is Brighter Than Ever
by Sponsored Post
It was long overdue by most estimates. Precious metals prices have been steadily rising for far longer than even the …
Ukraine Denies Reports From Think Tank That It Is Months Away From Developing a Nuclear Weapon
by Natural News
Ukraine has denied reports suggesting it could develop a nuclear weapon soon, following claims by a Ukrainian military think tank. The report, published by the Ukrainian think tank and nongovernmental organization the Center for Army, Conversion and Disarmament Studies, claimed that Kyiv could use spent nuclear fuel from its remaining…
Alex Jones Reveals Elon Musk Saved Infowars From Being Sold to The Onion
by End Times Headlines
Alex Jones has declared ‘the cavalry is here’ as attorneys for Elon Musk’s X jumped in to help put a temporary pause on the sale of his controversial Infowars to The Onion. The satirical news publication said the bid was sanctioned by the families of Sandy Hook Elementary victims who…
FBI Whistleblower Says FBI Intentionally Blocking Security Clearances for Trump Officials
by The Conservative Treehouse
It should not come as a surprise to see the same methods deployed against President Trump in 2024 that were used by the FBI in 2016. The difference is now that President Trump understands the full power of his office in the security clearance process and that he doesn’t need…
Pastor Greg Locke Burns Voodoo Doll He Claims Was Found on His Property
by End Times Headlines
Even amid ongoing warfare, we are called to stand firm on the Word of God. Pastor Greg Locke knows well the spiritual and physical attacks directed at him; he was recently targeted by a gunman. Now, he faces another spiritual assault, this time from someone attempting to place a curse…
Trump’s Incoming FCC Chief Already Putting Target on Big Tech ‘Censorship Cartel’
by WND
Social media companies have become a “cartel” for suppressing information with which they disagree, and that agenda now is going to be getting the attention of Brendan Carr, President-elect Donald Trump’s pick to be the chairman of the Federal Communications Commission. It was social media companies who played a role…
Sabotage: Two Undersea Internet Cables Connecting Four NATO Nations Were Severed
by Publius
Many in the international community are claiming sabotage as the only viable explanation for two fiber optic internet cables in the Baltic Sea being severed less than 24-hours apart. Fingers are being pointed at Russia as one of the the cables connected NATO nations Germany and Finland. The latter was…
Pennsylvania Supreme Court Orders Democrats to Immediately End Counting of Illegal Ballots
by Infowars
The Pennsylvania Supreme Court on Monday ordered Democrats in several counties to immediately halt their unlawful counting of illegal ballots in the Senate race recount. The Pennsylvania Supreme Court had ruled before the election that mail-in ballots lacking formally required signatures or dates should not be included in official results….
22-Year-Old Woman With Depression Was Almost Euthanized, She Changed Her Mind Right Before She Was Killed
by Life News
Why do you oppose euthanasia, Wesley? If people want to die, we should help them die. No. And here’s an individual example explaining just one reason why. A deeply depressed woman was about to be lethally injected in the Netherlands — but changed her mind just in the nick of…
“Massive Breach”: T-Mobile Network Hacked by Chinese State Sponsored Intelligence
by Tyler Durden, Zero Hedge
(Zero Hedge)—Where’s John Legere in a pink t-shirt when you need him? Among the multiple stories over the last few weeks about Chinese intelligence and hackers either attempting to, or outright gaining access, to U.S. cell phone networks (with reports stating President Trump and his team were targeted), comes news…
Trump’s Idea to Shut Down Department of Education Gets High Five From Top Christian Evangelist
by WND
A priority for the incoming administration of President-elect Donald Trump is to tackle the Deep State, the bureaucracy in Washington that is a self-perpetuating industry, to find what American taxpayers don’t need or want. And get rid of it. One of the targets he’s already identified is the Department of…
Experts Sound Alarm Over ‘Shocking’ Spike in Strokes Among ‘Healthy’ Young People
by Slay News
Health experts have issued a chilling warning to the public over a “shocking” spike in strokes among “healthy” young people. The “alarming” surge was identified in official UK government data. The data shows that recorded cases of deadly strokes skyrocketed in 2023 and continued soaring this year. In 2023/24, the…
