Gold Mid-Year Outlook 2024
Key points:
- Gold has performed remarkably well in 2024, rising by 12% YTD (15% in AUD) and outpacing most major asset classes.
- As we look forward, gold and the global economy seem to be waiting for a catalyst. For gold, this will likely come from a combination of falling rates as well as bubbling market and geopolitical risks, attracting additional Western investment flows.
- However, a sizable drop in central bank demand or widespread profit-taking from Asian investors could curtail gold’s performance.
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