The recent surge in gold prices, which increased by 26% in 2024, is attributed to a rising demand from central banks globally and heightened geopolitical tensions, particularly from ongoing conflicts in the Middle East and Ukraine. Amid previous scorn from Wall Street investors like Warren Buffett, who dismiss gold as having no utility, forecasts by prominent investors such as John Paulson and institutions like Goldman Sachs suggest a bullish outlook for gold's future. As investors consider the value of gold as a hedge against market instability, reviews of gold-mining stocks are becoming more relevant.
The price of gold jumped 26% in 2024, the most since 2010, driven by skyrocketing demand from central banks and increasing geopolitical tensions.
Wall Street billionaire John Paulson sees gold potentially reaching $5,000 by 2028, and Goldman Sachs has revised its estimates for gold prices significantly upward.
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