Up 33% in 2024, can the gold price keep rising?
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Whilst ASX investors have been treated to a relatively successful year in 2024, the ASX’s gains pale in comparison to what the gold price has delivered.
The S&P/ASX 200 Index (ASX: XJO) has risen by a healthy 7.52% over the year to date. We can add a few percentage points to the total to account for dividend and franking returns as well. But even so, gold has still run rings around shares this year.
An ounce of gold was going for approximately US$2,077 back in early January. But today, that same ounce is asking roughly US$2,754 – right on the metal’s record high. Gold futures are even higher. According to Bloomberg, gold contracts are currently being priced as high as US$2,761 per ounce on the futures…
