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An original article by Lorimer Wilson, the Founder and Managing Editor of munKNEE.com – a site for sore eyes and inquisitive minds and your Key to making money which was first posted on TalkMarkets.com under the title These 6 “Analysts” Predict Gold Reaching $3,500, On Average, In 2024 with 993 pageviews to date.
The 7 “analysts” who forecast in writing that the price of gold would rise to somewhere between $3,329 and $3,400/ozt. in 2023 fell short. Will these 6 “analysts” who expect gold reaching $3,500 per troy ounce sometime in 2024 be more accurate?
Below are the analysts’ targets for 2024 and their rationale for such high prices:
- Brian Lundin: $3,000 in 2024
- “I think we’ll set a new record in real terms, exceeding $3,000/ozt., by 2024, or so.” Source
- Lawrence Lepard: $3,000 by mid-2024
- “I am betting that gold hits $3,000 per troy ounce by mid-2024. Source
- Michele Schneider: $3,000-$3,500 in 2024
- “Every time we look at the price of gold, we take one step closer to realizing our prediction of the $3,000-$3,500/ozt. price target in 2024 and we are not ruling out a trip to $5,000 by 2025.” Source
- Jordan Roy-Byrne: $4,000 by end of 2024
- “Gold will hit my $4,000 per troy ounce target by the end of 2024.” Source
- Victor Dergunov: $5,000 in 2024
- “Gold at $5,000/ozt. seems plausible, and it is likely to continue to go higher after that.” Source
- Equity Management Academy: $5,500 in 2024
- “Gold…will hit $5,500 per troy ounce in 2024 and then enter a bull trap with fear driving gold down below $4,000 and then return to its mean at about $1,500 to $2,000.” Source
Average Forecast For 2024: $3,500/ozt.