New Delhi, Oct. 15 -- Gold prices could climb to fresh record highs within the next 24 months, according to investors and industry executives cited by the Financial Times, as central banks increase their bullion purchases and concerns over government debt, geopolitical tensions and the US dollar's dominance support demand for the precious metal.

The bullish forecasts come despite a recent decline in gold prices. Bullion fell 2% to $4,075 per troy ounce on Wednesday amid expectations that the US Federal Reserve could raise interest rates again, the news outlet stated.

However, fund managers cited by FT expect gold to rebound, supported by investors seeking safe-haven assets amid growing economic and financial market uncertainty.

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