Gold prices are likely to take a hit if the U.S. economy achieves a so-called soft landing in 2024 and avoids a recession, despite rising inflation and interest rates this year, according to the World Gold Council.
In its 2024 gold outlook, the industry body said the market is currently anticipating a soft landing for the U.S. economy—in which inflation falls without any significant negative side effects—which should boost the global economy with it. Based on past data, soft landings generally haven’t benefited gold, with prices either holding flat or falling.
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