Gold rose to $4,161.42 per ounce last Wednesday, its highest level in over a week. Growing expectations of a Federal Reserve interest rate cut next month boosted demand for this non-yielding precious metal. Traders now see an 83% chance of a December rate cut compared to 30% just a week ago. Comments suggesting that the next Fed chair could be Kevin Hassett who favors lower rates, added further support.

Wall Street forecasters expect gold’s record-setting rally to continue projecting gains of up to 20% over the next year as strong central bank buying, expected Fed rate cuts, and ongoing investor demand keep pushing prices higher. Bank of America sees gold reaching $5,000 per ounce, Goldman Sachs forecasts about $4,900 per ounce, and Deutsche Bank expects gold prices to reach as high as $4,950 per ounce by 2026. Analysts say the same forces that drove gold up 57% this year– economic uncertainty, inflation concerns, deficit spending, and a shift away from the dollar- are likely to remain in place, helping support continued strength in the yellow metal.

Due to its popularity, Goldline is extending last week’s Deal of the Week this week as well. You still have the opportunity to purchase PCGS or NGC graded MS-65 1924 $20 Saint Gauden gold coins at a special discounted price. Inventory is getting lower every day, so you may want to act as soon as possible. In addition, tomorrow we will be offering one-day Cyber Monday deals, be on the lookout for the email.

Call 800-827-4653 to take advantage of this deal or to inquire about Goldline’s Cyber Monday deals.

Below you can find news that may be influencing your investment decisions.

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