Gold is on track for one of its largest annual gains this century, with a 27% increase driven by US monetary easing, ongoing geopolitical risks, and a surge in purchases by central banks.
As of this month, the price of gold has climbed to unprecedented levels, with investors flocking to gold as a safe-haven asset, seeking to preserve their wealth in the face of volatile stock markets and fluctuating interest rates.
Market analysts have recorded the growing demand for gold in 2024 in both investment and industrial sectors has further fueling its price rise, which currently sits at $2,620 per ounce.
Investors are closely watching the U.S. Federal Reserve’s monetary policy outlook in 2025 and President-elect Donald Trump’s tariff policies in the hope that this upward trend may continue.
This year’s recent price increases have led to gold’s best market performance since 2010.
By CEO NA Editorial Staff
