Will gold keep shining in 2024?‎

World Gold Council’s forecasts for 2024 do not show the slightest possibility of a decline in gold prices, as the World Gold Council said in a report that global gold prices may reach a record high this month, and it expected that the momentum will continue if the US economy slows as expected.

Possible scenarios:

In its forecasts for the year 2024, the Market Development Group for the world’s gold industry identified possible scenarios for the global economy in the coming year. Considering that the most likely outcomes – either a soft economic decline or recession – will all support gold prices and lead to their rise.

Regardless of what proves the validity of the possibilities, the “Investopedia” website indicates that uncertainty is certain and will work to support demand for gold. In addition to increasing global tensions looming on the horizon, including elections in the United States and other leading economies, at a time when investors are considering possible interest rate cuts by the Federal Reserve.

Safe haven:

The council said this would encourage many investors to keep effective hedges, such as gold, in their investment portfolios.

Expectations indicate that the recent rise in gold prices will continue. With ongoing geopolitical tensions, economic uncertainty, and rising inflation, many consumers are concerned about their finances.

For some, gold – long known as a safe investment – could provide the solution.

In this context, a recent report on the CBS News website offered some solutions to investors’ concerns about the looming economic or geopolitical issues that affect their wealth? He explained his vision on how investing in gold could help in 2024

‎1. Diversify your portfolio to reduce risks:

Putting all your eggs in one basket – at least from an investment standpoint – is always risky. For example, if you are heavily invested in the stock market and the S&P 500 declines, so does your overall wealth. It will cost you a lot. Also, if you have a big bet in the real estate market and another bubble bursts, you will lose a lot.

‎2. Safe haven to protect against market uncertainty:

Geopolitical conflicts lead to instability, and when that happens, investors and consumers tend to seek refuge – somewhere their money will be protected and hold its value despite what may happen politically. As a rare asset, gold offers a safe haven option

1. It offers a hedge against persistent inflation:

Gold is also known as a smart hedge against inflation, allowing you to preserve wealth – even as fiat currency loses its purchasing power.

It protects your money in the event of a downturn. You can also invest in gold as protection against a possible recession

1. Provides financial liquidity at any time:

It is always in demand, and you can buy or sell it anytime you need. This may be useful if you have unexpected expenses, lose your job or are facing difficult times.