2024-07-16 08:40:00 ET
Summary
- In 2024, gold prices have soared to record highs, reaching $2,409 per ounce.
- Historical data shows that gold prices often increase during times of geopolitical unrest or instability, as investors seek stability.
- Factors such as potential rate cuts by the Federal Reserve, ongoing geopolitical risks, and sustained inflationary pressures are likely to further enhance gold's attractiveness.
Here is a high level overview of reasons to own gold now and VanEck’s outlook for the metal for the remainder of 2024 and beyond.
Gold is one of the most vital metals in the world and a unique asset, with the ability to enhance portfolio diversification, act as store of value, and hedge against systemic risk. VanEck has long been considered a leader in gold-related investments and has been managing gold funds since 1968, including the nation’s first open-ended gold equity mutual fund....
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Gold Price And Investment Outlook: 2024 And Beyond