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GOLDEN Opportunity

Wednesday, April 24, 2024

Primary Blog/Stock Market/GOLDEN Opportunity
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GOLDEN Opportunity

LIn 2024, the price of gold has reached unprecedented levels, with gold futures surging by 14.49% since the beginning of the year. The price per ounce of gold has hit new all-time highs, surpassing $2,160 per ounce in early March and currently standing at $2,346.33 per ounce as of April 15.

The upward trajectory of gold prices can be traced back to 2023 when gold investing reached an 11-year high. Institutional investors turned to gold as a hedge against stubborn inflation and high interest rates aimed at controlling it. The confluence of economic and geopolitical factors, including rising inflation, a weakening dollar, and ongoing geopolitical tensions, has propelled gold prices to record levels.

Central banks, particularly those in BRICS Plus nations, have been increasing their gold reserves at a rapid pace, shifting focus from U.S. treasuries. Speculation about multiple interest rate cuts by the Federal Reserve in 2024 has further boosted the attractiveness of gold as a non-interest-bearing asset.

Experts like Alex Ebkarian and Michael Ashley Schulman foresee continued strength in the gold market due to the potential impact of Fed rate cuts and a weakening dollar. Joe Cavatoni highlights historical data indicating favorable gold performance following Fed rate cuts, making a case for continued growth in the gold market.

While gold is considered a valuable asset for portfolio diversification, investors should be aware of its volatility and lack of income generation. Gold's historical performance, though impressive, may not match the returns of the stock market over the long term. Considering gold as a store of value rather than a high-return investment is advisable for investors looking to stabilize their portfolios.

​Timing the market for gold investments is challenging due to various economic and geopolitical factors influencing price movements. Therefore, investing in gold for its benefits beyond price appreciation is recommended by industry experts.

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