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Gold, silver prices expected to rise in 2024, UBS analyst projects – USA TODAY

Analysts expect gold and silver prices to rise if the Federal Reserve cuts interest rates this year. According to a report by CNBC on Sunday.

Joni Teves, precious metals strategist at investment bank UBS, told CNBC that he expects gold prices to reach $2,200 an ounce by the end of the year.

“We expect gold prices to rise as a result of Fed easing, which is also accompanied by a weaker dollar,” Taves said.

In January, the Federal Reserve kept short-term interest rates unchanged at 5.25% to 5.5%, the highest level in 23 years, putting a damper on expectations for a rate cut in March.

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