CBS News
How high will the price of gold climb this fall? Here’s what experts say
Getty Images
The price of gold has climbed steadily since March, and much of that upswing has to do with the current economic climate. With high inflation, elevated interest rates and a looming presidential election, many have invested in gold to protect their wealth.
“During times of uncertainty, gold can serve as a safe haven,” says Sean Mason, an investment advisor representative with Fresno Financial Advisors.
This flock toward safety has caused gold to reach record highs several times, eventually surpassing $2,500 per ounce in August. And while inflation has cooled in recent months (and the Fed is expected to make a rate cut soon due to that drop), most experts think gold’s price surge will continue through 2024.
Find out more about how adding gold to your portfolio could be a smart move this fall.
How high will the price of gold climb this fall? Here’s what experts say
Here’s what they have to say about the precious metal’s performance as we head into fall.
Demand will remain strong
While there are likely some economic changes coming later this year, experts say many of the factors encouraging a run toward gold will remain the same.
“Growing concerns around the geopolitical landscape, domestic unrest driven by a hypersensitive presidential election year, and heightened anxiety in a challenging economic environment sets a backdrop for consumers to seek refuge in some semblance of safety,” Mason says.
Weakness in paper currencies also plays a role in gold’s recent run-up, according to Keith Weiner, founder and CEO of Monetary Metals, and that should remain the same as well.
“As people lose confidence in the stability of their national currencies, they turn to gold as a hedge against currency debasement,” Weiner says. “Gold is the anti-currency and banking asset, as it has no counterparty.”
Explore your gold investing options and get started here.
Gold will keep climbing
Gold prices may have reached record highs several times this year, but experts don’t think they’ve peaked just yet.
“Nothing I have seen shows gold slowing down any time soon,” says Nick Fulton, managing partner of USA Pawn Stores of Mississippi and chairman of the Mississippi Pawnbrokers Association.
In fact, Fulton says his pawn shops are seeing more interest in gold than ever.
“People who have never owned gold are walking into our shops and buying for the first time,” Fulton says. “In March 2024, gold was around $2,100 an ounce. At that time, I expected to see gold hit $2,500 by the end of the year, yet here we are trading over that amount with four months to go in 2024.”
According to Weiner, we’re still in the early stages of what he calls “a significant gold bull market.” In turn, there could be a long way to go before gold prices hit their peak.
“While we might see occasional dips, the overarching trend is upward as paper currencies continue to weaken,” Weiner says.
Expect $2,600 to $3,000 per ounce
Investment data firm Morningstar projects gold could reach $2,600 per ounce by 2025. But according to Weiner, it may go even higher than that.
“Our model suggests that if we strip out the impact of leveraged futures market speculation, gold’s price should be around $2,800, based on current supply and demand,” Weiner says. “What’s interesting is that as the price climbs, demand doesn’t drop off. This demand isn’t driven by headlines but by deeper concerns — like debt levels, abuse of monetary policy, and either fear or desire for de-dollarization.”
James Cordier, CEO and head trader at Alternative Options, projects that gold prices will reach $3,000 by the end of the year — and the likelihood of a Fed rate cut is just part of the reason. (Studies show that interest rates and gold prices tend to have an inverse relationship).
“With gold being priced in U.S. dollars, the market is extremely focused on any changes the Federal Reserve might be making to interest rate policy,” Cordier says. “Lower rates generally translate to a weaker currency, and all of a sudden you have a new form of inflation scare.”
The bottom line
There are many and take advantage of its surging price growth. You can purchase physical coins and bars, open a gold IRA, invest in gold stocks and gold ETFs or buy gold futures. If you’re not sure what the best route is for your gold investments, talk to a financial advisor or investment professional. They can help you put your funds to best use.
Former President Donald Trump meandered Saturday through a list of grievances against Vice President Kamala Harris and other issues during an event intended to link his Democratic opponent to illegal border crossings.
A day after Harris discussed immigration at the U.S.-Mexico border, Trump spoke to a crowd in Prairie du Chien, Wisconsin, about immigration. He blamed Harris for migrants committing crimes after entering the U.S. illegally, alleging she was responsible for “erasing our border.”
“I will liberate Wisconsin from the mass migrant invasion,” he said. “We’re going to liberate the country.”
The Republican nominee also intensified his personal attacks against Harris, insulting her as “mentally impaired” and a “disaster.”
“Joe Biden became mentally impaired,” Trump said. “Kamala was born that way. She was born that way. And if you think about it, only a mentally disabled person could have allowed this to happen to our country. Anybody would know this.”
The personal attacks have been something of a trend for Trump since Harris entered the race. In July, Trump falsely questioned Harris’ racial identity during a panel with the National Association of Black Journalists.
“I didn’t know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black,” Trump said at the time. “So I don’t know, is she Indian, or is she Black?”
When asked in an interview with CBS News last month if he believes the personal attacks will hurt him with voters, he responded, “No, I don’t think so.”
Trump, meanwhile, hopes frustration over illegal immigration will translate to votes in Wisconsin and other crucial swing states. The Republican nominee has denounced people who cross the U.S.-Mexico border as “poisoning the blood of the country” and vowed to stage the largest deportation operation in American history if elected. And polls show Americans believe Trump would do a better job than Harris on handling immigration.
Trump shifted from topic to topic so quickly that it was hard to keep track of what he meant at times. He talked about the two assassination attempts against him and blamed the U.S. Secret Service for not being able to hold a large outdoor rally instead of an event in a smaller indoor space. But he also offered asides about climate change, Harris’ father, how his beach body was better than President Biden’s, and a fly that was buzzing near him.
“I wonder where the fly came from,” he said. “Two years ago, I wouldn’t have had a fly up here. You’re changing rapidly. But we can’t take it any longer. We can’t take it any longer.”
Trump repeatedly brought up Harris’ Friday event in Douglas, Arizona, where she announced a push to further restrict asylum claims beyond Biden’s executive order announced earlier this year. Harris denounced Trump’s handling of the border while president and his opposing a bipartisan border package earlier this year, saying Trump “prefers to run on a problem instead of fixing a problem.”
“I had to sit there and listen” to Harris last night Trump said, eliciting cheers. “And who puts it on? Fox News. They should not be allowed to put it on. It’s all lies. Everything she says is lies.”
Trump professed not to understand what Harris meant when she said he was responsible for taking children from their parents. Under his administration, border agents separated children from their parents at the U.S.-Mexico border in a policy that was condemned globally as inhumane and one that Trump himself ended under pressure from his own party.
Harris, at a rally in San Francisco, told supporters there were “two very different visions for our nation” and voters see it “every day on the campaign trail.”
“Donald Trump is the same old tired show,” she said. “The same tired playbook we have heard for years.”
She said Trump was “a very unserious man.”
“However the consequences of putting him back in the White House are extremely serious,” she said.
The Harris campaign Saturday again challenged Trump to a second debate, this time in the form of a football-themed television ad. Following his Wisconsin rally, Trump traveled to Tuscaloosa, Alabama, to attend the Alabama-Georgia football game Saturday evening, and the Harris campaign premiered the ad during the game.
“Champions know its anytime, anyplace, but losers, they whine and waffle,” the ad’s narrator said.
Kendy Howard was found dead in her bathtub. While dispatched as a suicide, clues at the scene made Kootenai County authorities suspicious. Here’s a look at the case:
A 26-year marriage
Brian Wilkins
Dan and Kendy Howard had been married since 1994. By 2021, Dan Howard had gone from working as an Idaho State Trooper to working in the Alaskan oil fields for three weeks at a time.
Kendy seeks divorce
Brian Wilkins
On Jan. 28, 2021, just five days before she died, Kendy Howard picked Dan Howard up from the airport and told him she wanted a divorce. She described Dan’s reaction to a friend as having been “not good.”
Dan Howard’s call to 911
Kootenai County Prosecuting Attorney
On the night of Feb. 2, 2021, at 10:43 p.m., Dan Howard called 911, screaming Kendy had shot herself. “She’s in the bathtub dead …”
The call was dispatched as a suicide.
Dan Howard at the scene
Kootenai County District Court
Kootenai County Sheriff’s Deputy Miranda Thomas was one of the first officers to arrive. Thomas said she witnessed Dan Howard screaming, crying and gagging.
Kendy Howard found in the bathtub
Kootenai County Sheriff’s Office
Caption: Kendy Howard was found dead, naked in the bathtub of her home, with a gunshot wound to her head. Kendy’s gun was submerged in the bathwater.
A packed duffle bag
Kootenai County Sheriff’s Office
Thomas noticed a duffle bag with what she said seemed to be women’s clothing packed inside.
A clue on the dryer
Kootenai County District Court
Kootenai County Sheriff’s Detective Jerry Northrup said that in the dryer he observed “bathmats and towels … and they were still somewhat warm,” which he said led him to question when the cycle had been started.
How did Kendy Howard really die?
Kootenai County Sheriff’s Office
Kendy Howard’s gun was found in the bathtub. Investigators said they would have expected to see a lot more blood in the bathtub if she had been alive when she was shot.
Kendy’s daughter accuses Dan Howard
CBS News
When Dan Howard called his stepdaughter Brooke Wilkins with the news of Kendy’s death, investigators said they could overhear Wi accuse Dan of killing her mother. Despite their suspicions, detectives said there was not enough evidence at the scene to arrest Dan.
Dan Howard arrested
Kootenai County Sheriff’s Office
It took two years for prosecutors to build their case. In July, 2023, Dan Howard was arrested and charged with Kendy Howard’s murder.
Dan Howard on trial
Pool
On March 4, 2024, the trial of Dan Howard began. The prosecution claimed Dan had killed Kendy by putting her in a carotid restraint hold – a maneuver he had learned in his law enforcement training. The defense maintained that Kendy’s death was a suicide. After 10 days of testimony, 62 witnesses, and just over eight hours of deliberations, a verdict was reached.
Dan Howard found guilty
On March 19, 2024, the jury found Dan Howard guilty of second-degree murder and domestic battery.
Life in prison
Pool
At Dan Howard’s sentencing hearing in May 2024, Judge Lamont Berecz told him, “You killed a mother. You killed a grandmother. You killed a sister … You snuffed that out because of your own pride, greed, and anger.” Dan Howard was sentenced to life in prison without the possibility of parole.
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
