Incrementum's managing partner Ronnie Stoeferle said that although the sideways trend in recent weeks may have made gold bulls feel a bit nervous, there is still plenty of support in the gold rally, and the price of gold is not close to peaking. He believes that there are five major reasons why the price of gold continues to rise: First, although the trading price of gold in the spot market is higher than 2,675 US dollars per ounce, after adjusting for inflation, the price of gold has not reached an all-time high. The second key factor supporting the rise in gold prices is that demand for gold is still very high. The third key factor that continues to support the price of gold is falling interest rates, which helps to boost the price of gold. Paradoxically, the fourth factor supporting the continued rise in gold prices is weak demand, particularly from individual and professional investors. The fifth and final reason why gold prices have room to rise is the current geopolitical environment, which shows no signs of cooling down any time soon. He concluded, “The price of gold at the end of September was just over 2,600 US dollars, and the price of gold has reached the year-end forecast for 2024 of our Incrementum gold price prediction model.” “Given the further deterioration of the economic and geopolitical situation, the model's target price of slightly above $4,800 by the end of 2030 will be viewed as a conservative forecast. Against this backdrop, even gold, which rose sharply last year, is still very cheap.”

Incrementum's managing partner Ronnie Stoeferle said that although the sideways trend in recent weeks may have made gold bulls feel a bit nervous, there is still plenty of support in the gold rally, and the price of gold is not close to peaking. He believes that there are five major reasons why the price of gold continues to rise: First, although the trading price of gold in the spot market is higher than 2,675 US dollars per ounce, after adjusting for inflation, the price of gold has not reached an all-time high. The second key factor supporting the rise in gold prices is that demand for gold is still very high. The third key factor that continues to support the price of gold is falling interest rates, which helps to boost the price of gold. Paradoxically, the fourth factor supporting the continued rise in gold prices is weak demand, particularly from individual and professional investors. The fifth and final reason why gold prices have room to rise is the current geopolitical environment, which shows no signs of cooling down any time soon. He concluded, “The price of gold at the end of September was just over 2,600 US dollars, and the price of gold has reached the year-end forecast for 2024 of our Incrementum gold price prediction model.” “Given the further deterioration of the economic and geopolitical situation, the model's target price of slightly above $4,800 by the end of 2030 will be viewed as a conservative forecast. Against this backdrop, even gold, which rose sharply last year, is still very cheap.”