World Gold Council Predicts Steady Gold Growth

The World Gold Council reports that gold is on track for its best annual performance in a decade with prices up over 28% year-to-date, driven by strong demand exceeding $100 billion in Q3 2024. Looking ahead to 2025, gold's performance is contingent upon several factors, including the actions of the Federal Reserve and the dynamics of the US dollar, alongside ongoing demand from major markets like China and India. The IMF forecasts Ghana's GDP growth to gradually rise to about 5% beyond 2024, despite challenges from fiscal consolidation and a prolonged dry spell, with inflation expected to stabilize by the end of 2025. Additionally, the potential for gold prices to rise an average of 5% annually through 2040 has garnered attention, although market analysts caution about the sustainability of this year's 30% growth. Geopolitical tensions, central bank policies, and changing consumer demand will also influence gold's future trajectory. Overall, the outlook indicates a mix of opportunities and challenges for gold amidst a fluctuating global economic landscape.