The price of gold is expected to rise to $2,941 a troy ounce over the next 12 months from the current $2,661, delegates to the London Bullion Market Association’s annual gathering predicted on Tuesday.
Spot gold prices are up 29% so far this year, heading for the biggest annual gain in 14 years, amid the start of US Federal Reserve interest rate cuts and geopolitical tensions. The spot price hit a record $2,685.42 per ounce on Sept. 26.
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