"FBS Forecasts Gold Price of $2,800 by 2024 - Funding Allocation Revealed"
FBS Financial Market Analysts Forecast Gold Prices to Rise to $2,800
FBS Projects Gold Price Surge to $2,800 per Ounce by End of 2024
Key Highlights:
- Gold Price Projection: FBS, a leading global broker, predicts gold prices to reach $2,800 per ounce by the close of 2024.
- Factors Driving Bullish Trend: FBS analysts attribute the upward trend in gold prices to significant central bank buying, continued inflationary pressures, and increased demand from non-institutional investors.
- Central Bank Buying: Central banks worldwide are fortifying their gold reserves as a strategic shift towards safer assets amid escalating geopolitical tensions.
- Inflationary Pressures: Rising inflation, military conflicts, and complications in maritime trade routes contribute to the attractiveness of gold as a hedge against currency devaluation and declining purchasing power.
- Increased Demand from Non-Institutional Investors: Non-institutional investors are gravitating towards gold as a store of value and a means of portfolio diversification, leading to record-high gold demand in 2023.
Gold Market Trading Strategies
- Risk Management: Prudent risk management is crucial in bullish market conditions, including controlling position sizes, limiting trade deposits, and utilizing stop-loss orders.
- Technical Analysis: Utilize technical analysis tools like moving averages, RSI, and MACD to align with the prevailing market trend.
- Enhanced FBS App: Take advantage of the enhanced FBS app to seize market opportunities on the go and access trading features.
What Traders Need to Know
- Gold Price Outlook: Stay updated on gold price movements and monitor key resistance and support levels.
- Market Trends: Keep track of central bank actions, inflationary pressures, and non-institutional investor demand to anticipate future gold price movements.
- Technical Analysis Tools: Familiarize yourself with technical analysis indicators to make informed trading decisions.