Gold prices surge as investors seek safe haven and bullish forecasts emerge.

Gold futures are hovering around $2,038 an ounce, just 2.5% away from former highs of $2,089.20 reached in August 2020, as investors pile into the safe haven in anticipation of a Fed pivot as the US economy slows. A weaker dollar and a drop in the 10-year treasury yield are also signs of an expected ease in monetary policy which is helping buoy gold prices. Gold enthusiasts have been predicting a break-out for some time, with some targeting $3,500 by 2024.