The Globe and Mail reports in its Wednesday, Sept. 25, edition that many major banks anticipate that the price of gold will continue to rise through 2025 due to increased investments in exchange traded funds and the expected decrease in interest rates by major central banks, including the U.S. Federal Reserve. A Reuters dispatch to The Globe reports that JPMorgan analysts noted that while strong physical demand from China and central banks has supported gold prices over the past two years, the key to a sustained rally in gold prices lies in investor flow and retail-focused ETF builds, especially during the upcoming Federal Reserve cutting cycle. This year, the non-yielding gold has seen a significant increase of nearly $570 per ounce, or over 27 per cent, making it one of the standout assets of 2024 (all figures U.S.). It hit a record high of $2,639.95/oz earlier this Tuesday and has reached record highs multiple times this year. UBS analysts believe that despite these highs and outperforming major stock indices, gold still has room to grow over the next six to 12 months. They point to the revival of large inflows to exchange traded funds as a key factor, something that has been lacking since April, 2022.