Spot gold prices are up 29% so far this year, heading for the biggest annual gain in 14 years, amid the start of US Federal Reserve interest rate cuts and geopolitical tensions. The spot price hit a record $2,685.42 per ounce on Sept. 26.
Delegates from around the world also predicted that silver prices would jump to $45 per ounce in a year’s time from around $31.46 on Tuesday. Silver prices are up 32% so far this year. Silver touched a record high of $49 per ounce in 2011.
They forecast that platinum prices would climb to $1,148 from the current $984 and palladium would edge up to $1,059 from around $1,012.
(By Polina Devitt; Editing by Will Dunham)