Fresh off a year where intense demand drove the price of gold to an all-time high, the precious metal continues to see strong support, with banks such as UBS and JP Morgan Chase predicting new record highs.
“The biggest drivers of gold demand in 2023 were the Russia-Ukraine war and Israel-Hamas conflict as well as the slowdown in China’s economy—and these could continue boosting the metal’s prices well into 2024.”
—Shaokai Fan, global head of central banks at WGC
What are the economic and geopolitical forces at play that will drive gold prices in 2024 and beyond?
Click on the video link below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- MarketWatch: “Why gold prices are likely to reach a record high in 2024”
- CNBC: “Gold prices to hit $2,200 and a ‘dramatic’ outperformance awaits silver in 2024, says UBS”
- Bloomberg: “Gold Demand to Hit Record With Central-Bank Buying, WGC Says”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
