Central Banks & Geopolitics to Keep Gold Demand Soaring in 2024
The comments below are an edited and abridged synopsis of an article by Max Maecker
Since 2020, waves of tumult and crisis have swept the globe. The Covid pandemic, the Russia-Ukraine war, the Silicon Valley banking crises, and more, have sent investors looking for safe-haven assets in a volatile world. Out of these circumstances, a mega rally for gold was born.
In 2023, gold rose an incredible 15% and, by December, gold reached a record-setting high of $2,315 an ounce.
Tensions continue to simmer. Globally, the appetite for gold appears undiminished. Will the bullion boom continue? Both analysts and key indicators suggest that the precious metals’ rally seems far from over.
Max writes about the geopolitical chessboard; central banks’ gold-buying binge; a universally trusted asset; the BRICS factor: a new gold-backed currency; Fed rate cuts and predicted $2,200 highs; a bullish sentiment for 2024; and a golden horizon: investment insights.
“With a whirlwind of geopolitical and economic uncertainties, the appeal of gold endures as a haven and investment asset. Geopolitical developments and central bank strategies will be critical in sustaining gold’s demand. For those navigating the unpredictable waters of the financial markets, the wisdom of incorporating gold into their investment portfolio… appears more relevant than ever.”