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Gold price hits Australian dollar record as global tensions escalate
Gold pushed through to A$3,136 per ounce on Friday morning, setting a modern record in Australian dollar terms. But there may be more to come with JP Morgan predicting the gold price to hit US$2,175/oz in 2024. That may well turn out to be far too pessimistic given the state of the globe right now. But, at today’s exchange rate, that JP Morgan figure would mean an Australian dollar price of A$3,443/oz. Potential for further rises: Gold has been recovering from a recent pullback, stirred mainly by conflicts in the Middle East. The $A needle hit A$3,086/oz in Wednesday trading in New York and needed only a nudge to ... (full story)