As of September 2024, the spot price of gold has seen a significant increase.
The spot gold price has experienced a bullish trend, driven by factors such as geopolitical tensions, economic concerns, and inflationary pressures.
The outlook for the price of gold in 2024 is generally positive, with many analysts predicting an increase.
Here’s a breakdown of some predictions:
With the spot gold price approaching $2,100 an ounce, what’s the outlook for the price of gold for 2024
Gold Price Outlook 2024
The outlook for the price of gold in 2024 is mixed, with some analysts predicting further gains and others expecting a slight decline. Here’s a breakdown of the current situation and potential factors at play:
Many central banks all around the world own gold. In fact, since the late 90s, central banks around the world have been net buyers of gold.
That wasn’t true before that. Coincidentally, that is also when the gold price bottomed ended that long bear market and began a massive, epic bull-market leading into a bubble in the late 2000s. (more…)
Fantastic interview! Love the quote “Mr Powell has to feel like a porcupine in a balloon factory”.
The conflict in Eastern Europe is likely to be protracted, and energy prices will respond by rallying even higher from current levels, said Pierre Lassonde, chairman emeritus of Franco-Nevada and CEO of Firelight Investments.
“I think that Mr. Putin calculated that this was going to be an easy, quick win for him, to just roll into Ukraine and essentially put Humpty Dumpty back together, which was what he was trying to do. His plans are not turning out exactly as he had wished. With the Germans now changing tack and saying, we’re going to provide military help, that has changed the possible outcome of this war quite dramatically. The longer it lasts, the more profound the impact is going to be, particularly on the energy market. If this goes on for two, three weeks, a month, I think you’re looking at $200 oil,” Lassonde told Michelle Makori, editor-in-chief of Kitco News on the sidelines of the BMO Global Metals & Mining Conference. (more…)
So, how will the spot price of gold do next year? Gold price in 2022? Will gold’s price go up? Will spot gold go down? Let’s see one gold investors educated guesses.
The creator of this video buys gold and other assets on a dollar cost average schedule and then buys more as price and interest allow. His primary focus is about buying gold coins. He does talk a little about cryptocurrency, mining stocks and other equities as well. (more…)