Abdul Nafy

Gold could potentially surpass $6,000 per ounce #XAUUSD #Fed
by the end of the year if several major factors continue to support its price:

1. — Central banks, particularly in emerging markets, have been increasing their gold reserves to diversify away from the U.S. dollar.

2. — If major central banks continue cutting interest rates, the opportunity cost of holding non-yielding gold decreases, making gold more attractive.

3. — A weaker dollar generally supports gold because gold becomes cheaper for buyers using other currencies.

4. — Wars, political instability, and tensions between major economies can increase demand for gold as a safe-haven asset.

5. — Persistent inflation or renewed concerns about inflation can encourage investors to use gold as a store of value.

6. — Increased purchases through gold ETFs, funds, and institutional investors could create additional upward pressure.