Gold prices remained well-above the $2600 per troy ounce mark, reaching 2680 last Wednesday before settling at 2650 Friday morning.
Prices have surged 29.6% in 2024 year-over-year in dollar terms as global uncertainty has led investors to seek a safe haven investment.
This week’s rise was attributed largely to Wednesday’s Fed rate cut of 0.5% which added to gold’s momentum.
The last year when gold prices rose comparably to 2024 was 2020 when the COVID pandemic drove prices upwards 24.6%.
By Staff
