Gold Price Continues 2024 Dominance

9.12.24 - Gold Price Continues 2024 Dominance

Gold last traded at $2,559 an ounce. Silver at $29.92 an ounce.

Gold Price Continues 2024 Dominance, Sets New All-Time High -Watcher.Guru

by Joshua Ramos

Amid the ongoing interest in the asset, the gold price has continued its dominant performance throughout 2024, setting a new all-time high on September 12th. Indeed, the metal has reached a price of $2,545 surpassing the most recent landmark price set in August.

The record highs have been a trend for the asset throughout this year. The asset has continued to up the ante after first breaking through the $2,000 mark at the tail end of 2023. The question now is, just how high can the asset go during the final four months of the year?

Gold has long been an interesting asset to observe. The metal is a safe haven investment and thrives in periods of geopolitical uncertainty. That has seemingly magnified its value throughout this year. As macroeconomic factors remain questionable, and there is certainly turmoil abounding the globe, the metal has surged in value.

That has continued since September, just one month after racing a landmark value. Indeed, the Gold price has set yet another all-time high this year, reaching $2,545 Thursday. That continues a streak of record-setting for the investment. Driven by increased interest and even Central Bank acquisition strategies.

Following its trip above $2,000 in December of last year, Gold surged to $2,450 in May. Just two months later, it would set a new record of $2,483 on July 17th. Thereafter, interest rate concerns in the US pushed the asset above $2,500 for the first time in its history. Ultimately, paving the way for its continued assent.

The market is now anticipating its next move. The Federal Reserve is expected to cut interest rates at its September 17th meeting. That could push the price down. Yet, many experts are projecting continued gains for the metal throughout the year. This is mostly due to global interest from nations seeking to invest more in Gold as a burgeoning reserve asset.