16/10/2024 Daily Reports
Big news for gold investors! 2024’s standout commodity is set to keep climbing, with prices expected to rise by 10% over the next year. At the London Bullion Market Association (LBMA) event in Miami, industry experts predicted that gold could hit $2,917.40 per ounce by October 2025.
Gold has already been smashing records, bolstered by its status as a safe haven, a crucial wealth diversifier, and central bank purchases. With the Federal Reserve cutting interest rates, non-yielding gold is shining brighter than ever, hitting a peak of $2,685 last month.
But the excitement doesn’t stop there! According to the same survey, silver is projected to soar by over 40%, reaching $45 per ounce. It’s an exciting time for precious metals—don’t miss out on the momentum!
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Aussie Dollar Plummets! Is This the Start of a Currency Crisis?
The Australian dollar is in freefall, crashing below $0.67 to reach a five-week low! Despite Deputy Governor Sarah Hunter’s warnings about inflation control, the Aussie is getting crushed by a robust U.S. dollar. With traders bracing for the Federal Reserve’s cautious approach to rate cuts, the pressure is mounting. Adding to the tension, Australia’s heavy reliance on China and a sharp decline in oil, copper, and iron ore prices—vital exports—raises alarming questions about the currency’s future. Will the Aussie bounce back, or are we witnessing the beginning of a significant currency crisis?
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