Gold prices falling below $1,500 will ruin the industry – experts

On Thursday, the cost of gold continued to update the highs for several months on the background of the collapse of the dollar. It was trading at $1774.9 on the Comex in the evening and reached $1791.8 in the afternoon, its highest level since August. Still, analysts and the WCG are predicting it will fall next year if the Fed keeps raising interest rates.

Macquarie Bank expects the value of the precious metal to fall to $1,500 next year and believes it will move up only after convincing investors that the Fed has stopped raising rates. According to the research company Queen Anne's Gate Capital, the price may fall to $ 1300. However, some banks allow them to grow - for example, the forecast of the Canadian RBC Royal Bank is $ 1795.

Mark Bristow, head of Barrick Gold, one of the world's largest gold producers, believes the price of gold is unlikely to fall below $1600 per troy ounce because (according to WCG) it is in demand from private investors and central banks in developing countries. The Financial Times quotes him as saying that if gold prices drop to $1,500, the industry will collapse.