World Gold Council Predicts Gold Prices May Rise Further

The World Gold Council (WGC) is optimistic about gold prices, suggesting that the market could see another increase. Unlike previous times when gold hit record highs, the market is not yet saturated, indicating potential for further price rises. However, if current market expectations hold, gold may remain stable. The WGC noted that gold has risen 12% year-to-date, outperforming most asset classes, driven by central bank buying, strong Asian investment, resilient consumer demand, and ongoing geopolitical uncertainties.

Gold prices have seen a slight correction after a strong bull run but remain about 15% higher this year. Factors such as prolonged geopolitical conflict in West Asia, central bank purchases, including by the Reserve Bank of India (RBI), and physical demand have pushed prices up. Gold is a scarce commodity, and any imbalance in demand and supply can cause sharp price increases. Despite potential challenges, global investors continue to benefit from gold’s role in robust asset allocation strategies. The current price of gold in international markets is USD 235.8 per ounce.