What are gold futures?

To understand gold futures, let’s first look at futures more broadly. Futures are standardized, legally binding contracts that trade on exchanges. The buyer (or investor) agrees to purchase a set amount of an asset at a predetermined price and date.

What will gold prices be like in 2024?

“The anticipated retreat in both the USD and interest rates across 2024 are key positive drivers for gold,” Heng Koon How, head of markets strategy, global economics and markets research at UOB, told CNBC via email. He estimated that gold prices could reach up to $2,200 an ounce by the end of 2024.

Why is gold a good investment during economic and geopolitical uncertainty?

Gold tends to perform well during periods of economic and geopolitical uncertainty due to its status as a reliable store of value. “The anticipated retreat in both the USD and interest rates across 2024 are key positive drivers for gold,” Heng Koon How, head of markets strategy, global economics and markets research at UOB, told CNBC via email.

Will gold prices remain above $2,000 next year?

Gold prices are expected to remain above $2,000 levels next year. Gold prices notched another record to kick off the week — with spot prices touching $2,100 an ounce as the global rush for bullion appears set to continue.