Gold Prices Expected to Reach Historical Levels in 2024

Economic expert Maxim Khodalov predicted that gold prices will reach record levels by the end of 2024, driven by the ongoing rise in inflation rates in the United States and other international factors. The expert from "Victor X" investment firm stated, "Many sources indicate the possibility of continued inflation growth in the United States, which could lead to new record prices for the yellow metal this year." He noted that there is currently a corrective decline in gold prices from their record levels due to the rise of the dollar. He revealed that gold prices have significantly deviated from production costs, even for the most expensive gold mining operations, allowing producers to extract even lower-quality ores, which will increase the supply of the metal. Gold recently reached its highest historical levels, surpassing $2,400 per ounce. This growth is attributed to the deteriorating situation in the Middle East, along with expectations regarding changes in the monetary policy of the U.S. Federal Reserve System.