Investors Bet on Rate Cuts, Goldman Predicts Gold's Return

Gold prices reached a more than six-month high as the U.S. dollar weakened and investors bet on the Federal Reserve halting interest rate hikes. Analysts at Goldman Sachs predict that gold's shine will return, with potential upside tied to U.S. real rates and dollar movements, as well as strong consumer demand from China and India. Bank of America analysts also anticipate gold appreciation in the second quarter of 2024 as the Fed cuts rates.