mathieukor
The gold price is up 32% year to date in 2024, from under $2,000 in February to record highs around $2,720 currently. That is a $700 increase per ounce of gold. If we go back a bit further to the November 2022 low around $1,6o0, the price
Gold Soaring To Record Highs At $2,720 Is A Warning Shot
SPDR® Gold Shares ETF (GLD), IAU, GLDM, SGOL, BAR, IAUM, OUNZ, AAAU, XAUUSD:CUR, IGT:CA
Summary
- The gold price is up 32% year to date in 2024, from under $2,000 in February to record highs around $2,720 currently.
- Despite the GDX having roughly doubled from the lows two years ago, it still needs to climb another 50% just to return to the highs from 2011.
- Rising costs for mining companies has been a key driver of why mining stocks have underperformed.
- I think $5,000 gold is in play over the next few years and could happen much sooner than most expect.
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