Many admit that gold is not just a precious metal but a symbol of wealth and an object of endless expert attention. Rating agency Fitch decided to add a bit of excitement to the global price forecasts for this shiny asset. Reportedly, analysts raised their forecasts to $1,900 per troy ounce for 2024. Previously, economists were seen hunched over calculators, seeing a figure of $1,800. However, a surge of excitement or perhaps a strong cup of espresso pushed them toward a bolder forecast. Thus, they added another $100 to their previous prediction, likely causing a storm of applause among gold investors. However, they predict a descent from this golden ride to $1,800 in 2025 and then to $1,600 in 2026. Indeed, all good things come to an end at some point. Gold was not the only Fitch's target. Copper also caught the analysts' attention. While they previously dreamed of a price of $8,300 per ton, their predictions have increased to $8,400. The prices for 2025-2026 were decided not to be changed, remaining at $8,000 and $7,500 per ton, respectively. Apparently, after the gold fever, they decided to take a break. At the beginning of March, gold suddenly broke all records, reaching $2,153.55 per troy ounce on the New York Comex exchange. Economists link this to global geopolitical tensions and damaged communication cables.
