Gold to hit new heights in 2025
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GOLD TO HIT NEW HEIGHTS IN 2025
2024 has been an extraordinary year for gold, as the so-called yellow metal surged to a record of $2,790/oz on heightened geopolitical worries and expectations of monetary easing.
Those factors, particularly the first one, have created a structural shift in demand, according to German landesbank Helaba.
"Emerging markets with large reserves of US dollars most notably China, have been striving for greater autonomy since the outbreak of Russia's war of aggression against Ukraine," Helaba's Claudia Windt says.
"That is why their central banks, in particular, are increasingly buying up gold on global markets."
Windt also notes that Russian and Indian consumers and the Turkish central bank have also been "significant buyers" of gold.
Helaba sees gold hitting new records in 2025 as "demand will remain high, both fundamentally and politically, as long as the rate-cutting cycle continues and elevated geopolitical risks persist."
"Gold remains en vogue as a safe alternative in politically uncertain times."
(Samuel Indyk)
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THURSDAY'S OTHER LIVE MARKETS POSTS:
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French stocks have underperformed since Macron called election https://reut.rs/4i9dwh1
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Helaba gold https://tmsnrt.rs/3ZrJT3c
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