Gold in 2024 Posted the Best Performance in 14 Years

The surge in gold prices is attributed to its role as an effective hedge against rising geopolitical risks and market voltality.

SEATTLE (Scrap Monster): Over the past year, gold has performed exceptionally well, outperforming all other major asset classes. It also turned out to be a powerful diversifier for the portfolio. It should be mentioned that over the course of the year, the LBMA Gold Price PM reached 40 new all-time highs.

As per a recent study by Taylor Burnette, Research Lead-Americas at the World Gold Council (WGC), gold prices increased significantly by 25.5% overall in 2024. Because gold is a good hedge against growing geopolitical dangers and financial volatility, its price has surged.

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According to WGC, a number of important factors contributed to gold's good performance, including high investor and central bank demand, increased geopolitical concerns due to growing unrest in many regions, and volatility in numerous regional financial markets.

Market consensus suggests that gold should see a modest performance in 2025. As the year goes on, the possibility of upward catalysts is probably going to materialize. The U.S. Fed is probably going to cut by 100 basis points. Similar rate cuts are anticipated from the European central banks as well. It is anticipated that the US dollar will stay unchanged or maybe weaken. According to the WGC research, the Fed's actions and the direction of the US dollar will remain the main factors influencing gold prices in 2025.

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