The price of gold breached $2,500/oz. for the first time in history on Friday, August 16, 2024, continuing a momentous rally that saw the precious metal break record highs multiple times this year.
“Gold thrives from uncertainty…[and] uncertainty is at its peak.”
—Sabrin Chowdhury, head of commodities analysis at BMI
What led to gold prices rallying to this historic level, and where could gold go from here?
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:
- CNN Business: “A gold bar is now worth $1 million.”
- Bloomberg: “With Gold Setting Records Above $2,500, Here’s What Comes Next”
- CNBC: “Gold set for fresh highs ahead of Fed rate decision—analysts see prices at $3,000 by next year”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. 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.
