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The Economic Times
The Economic Times
Business

Gold may hit $5,000 an ounce as central banks, Asian buyers drive demand

Gold Monetary Policy United States Interest Rates US Federal Reserve

New Delhi: Gold prices could remain elevated at USD 4,200-5,000 per ounce over the next 12-24 months as central bank purchases and strong Asian investor demand increasingly drive the market, reducing the influence of US interest rate movements, according to a report by NDB Wealth Management.

The yellow metal was trading at USD 4,118.91 per ounce at the time of filing this report, down USD 5.82 or 0.14 per cent.

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