Gold will rise significantly in price in 2024, according to the world's leading banks. UBS predicts that it will reach new price records, as the Federal Reserve is likely to soften monetary policy - in December, the bank expects it to reduce the federal funds rate by 0.25%. In addition, investors will regain interest in gold funds (ETFs), its analysts said.

UBS warns that now gold prices may fluctuate and temporarily decline under the influence of ambiguous signals from the world central banks. These moments should be used and buy gold when it falls below $1950 per troy ounce, the bank recommends.

The growth of gold to record levels next year is also predicted in JPMorgan - the bank expects prices to rise above $2000 per troy ounce.

Since the fall of 2022 gold prices have risen by about 20%, despite the fact that investors were leaving gold-oriented funds, notes profinance.ru.