Gold gained 13 this year, hitting a record high in early Dec
Bullion could hit 2,300 on Fed rate cuts next year J.P. Morgan
Autocatalyst palladium braces for worst yearly fall since 2008

Dec 29 Reuters Gold investors anticipate record high prices next year, when the fundamentals of a dovish pivot in U.S. interest rates, continued geopolitical risk, and central bank buying are expected to support the market after a volatile 2023.

Spot gold is on track to post a 13 annual rise in 2023, its best year since 2020, trading around 2,060 per ounce.

Following on from a surprisingly robust performance in 2023 we see further price gains in 2024, driven by a trifecta of momentum chasing hedge funds, central banks continuing to buy physical gold at a firm pace, and not least renewed demand from ETF investors, Saxo Bank39;s Ole Hansen said.

On Dec. 4, gold hit a record high of 2,135.40 on bets of U.S. monetary policy easing in early 2024 after a perceived dovish tilt from Federal Reserve Chair Jerome Powell, surpassing the previous record scaled in 2020.

The precious metal almost made uncharted territory in May this year as a U.S. regional banking crisis took hold. By October, it had retreated close to 1,800 an ounce until safehaven demand triggered by the IsraelHamas conflict spurred another rally.

Investors returned to the popular SPDR Gold Shares exchangetraded fund , which posted net inflows of over 1 billion in November.

A Reuters poll in October forecast prices will…