YCharts’ Post

The return of gold as an investment reached almost 34% in 2024 YTD and so far the best year since 1979. We wouldn’t have expected such a spectacular growth when the stock markets are rising at the same time but however Gold hit another all time high yesterday making higher returns for the investors. What will gold be worth in the upcoming year? The price of gold could reach as high as $3,000 per ounce in the next year. While they remain bullish, however many factors could affect the price of gold within this timeframe.

Gold is currently up over 2% this week, more than making up for last week’s 1.7% decline. But gold stock investors are so worried that #gold prices will fall that gold stocks are down for the second week in a row. The $GDXJ fell 7% last week and it’s down another 1% this week.

Gold prices continue to soar, reaching a new all-time high last week, driven by multiple factors that have helped the precious metal outperform the booming stock market in 2024. According to FactSet data, spot gold prices closed at a record $2,622 per troy ounce in New York on Friday, bringing its year-to-date gain to 27.1%. This surpasses the impressive 20.8% return of the U.S. benchmark S&P 500 stock index, which includes reinvested dividends.

Gold is outperforming stocks. 📈 In a recent article, CNN reported that gold has reached a 30% year-to-date gain, leaving the S&P 500’s 20% return in the dust. Find out why in our latest newsroom post at goldback.com/news! #goldback #stock #gold #preciousmetals

$GLD #gold with Gold hitting $2,500 we are in a seasonal bullish period. Another 10% from here before year-end is very possible IMHO ending the year around $2,750. #Gold will likely beat all the major US stock indices by year-end by a wide margin. h/t chart: @seasonaxapp #goldtrading

Gold prices continue to skyrocket, closing last week at another record high, as several factors help boost the precious metal which has actually outperformed the blistering stock market in 2024. Spot gold prices ended Friday at a new record of $2.622 per troy ounce in New York, according to FactSet data, extending its year-to-date gain to 27.1%, topping the U.S. benchmark S&P 500 stock index’s balmy 20.8% return, including reinvested dividends. Read more: https://trib.al/Q0rMlpf

Gold's Market Cap Hit a Record $18.4 Trillion. Since 2019, the market value for gold has doubled. It is up 33% YTD. The market cap on U.S. stocks by comparison is only a bit over 3x that of gold now. Gold is making history. READ MORE:

Chris Vermeulen from discusses an anticipated correction in the gold market, predicting a pullback of 25-30%, reminiscent of the 34% drop in 2008. Vermeulen shares insights on the current market, indicating that while gold has reached important price levels, a potential decline is imminent as the stock market also shows signs of topping out. Both experts emphasize the significance of being prepared for volatility and potential opportunities in precious metals. YouTube: https://lnkd.in/gmDkJ5PZ Rumble: https://lnkd.in/gZFP5_wV Soundcloud: https://lnkd.in/gejTKzBU