In 2022, gold demand by central banks and other institutions reached a decade high. The increase was brought on largely by global economic uncertainties. Gold’s all-time high without inflation adjustments happened on May 20, 2024, when the metal traded at $2,450.05 per troy ounce.
2024 Gold Outlook
Gold’s trajectory in 2023 surprised many investors as the metal remained resilient against traditional macroeconomic headwinds. In 2024, we believe a number of macroeconomic factors will positively influence gold prices:
Shifting Monetary Policy Supports Gold
US Dollar Headwinds Could Benefit Gold.
Investors Turn Bullish on Gold as Volatility Rises.
Gold Remained a Standout Global Asset Class in 2023