Will Gold Prices Keep Rising in 2024?

Apr 23, 2024, 4:04 p.m. IST

Yesterday the gold price had a bad day, falling by more than 2%. Is this indicative of things to come? We don’t think so. Whilst we may well see some additional pullback, we don’t expect this to be the end of the gold price rally.

Currently, gold is stuck between a rock and a hard place, a delicate equilibrium if you will. Investors are torn between the desire to own the safe haven, or rising treasury yields and a strengthening dollar.

But the factors that drove the most recent breakout rally, in March, are still very much in place. And this is what we discuss in today’s video: Will The Gold Rally Continue?

Jan highlights four key factors that have supported gold’s climb this far, and explains why they remain strong drivers for a further step up in the price.

As ever, please let us know what you think. Do you expect the gold price rally to continue? Or do you think we will see a bigger pullback? Like a slingshot, could this pullback be setting it up for even bigger gains?

And if the recent price action has you or your friends asking if now is a good time to buy gold, then watch our short video to help you to decide.

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GOLD PRICES ( AM/ PM LBMA FIX– USD, GBP & EUR )

	USD $ AM	USD $ PM	GBP £ AM	GBP £ PM	EUR € AM	EUR € PM
22-04-2024	2361.45	2334.95	1911.83	1896.68	2216.22	2196.02
19-04-2024	2381.80	2379.70	1912.82	1910.19	2234.84	2230.97
18-04-2024	2379.85	2382.70	1907.93	1913.31	2228.73	2235.93
17-04-2024	2393.75	2390.35	1918.83	1918.49	2248.45	2245.73
16-04-2024	2369.00	2369.15	1903.73	1903.14	2230.18	2228.90
15-04-2024	2347.15	2344.20	1879.60	1880.05	2202.33	2204.02
12-04-2024	2394.80	2401.50	1916.80	1929.12	2246.08	2257.17
11-04-2024	2331.75	2345.65	1859.10	1870.19	2171.79	2185.68
10-04-2024	2346.85	2333.00	1848.85	1856.83	2160.74	2170.16
09-04-2024	2364.20	2356.10	1866.30	1855.43	2176.25	2165.49

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About Author

Dave Russell

David is the CEO of GoldCore. Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding. David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020. Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications. "Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments." When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice.