What are the odds of gold reaching $3,000 an ounce by the end of 2024? Spoiler alert: the probability is low, though not impossible. At current prices (~$2,330/oz), gold needs to increase almost 30% to reach $3,000 before the end of the year. There would have to be a perfect storm to see that type of growth, and with the Federal Reserve recently lowering the projected rate cuts to just one this year and the People’s Bank of China pausing gold purchases in May, it seems unlikely. While we don’t see it happening by year’s end the future of gold looks bright with strong fundamentals for gold to reach new all-time highs in the coming years. #preciousmetals #gold #apmex
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APMEX is one of the largest and most recognized precious metals retailers in the United States, selling physical gold, silver, platinum and palladium bars, rounds and coins. APMEX has been in business for over 20 years, has done over $18BN in retail customers sales, has over 2MM customers, and has over 25,000 products in stock. To learn more, visit APMEX.com or call (800) 375-9006.
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