Gold prices smash another record: What gold assets should you buy now?
Gold’s price performance in 2024 has been extraordinary. The upward price surge first started in early March when the price of gold hit about $2,160 per ounce, and since that time, gold’s price has shattered records almost continuously. In total, gold’s price has climbed by about 33% since January 1, 2024 — and the price of gold just shattered another record this week, reaching $2,776.10 per ounce, a new peak in an already remarkable bull run.
For early investors, this year’s meteoric rise in gold prices has led to impressive returns. Those who bought gold at the $2,160 price point in March have already enjoyed substantial gains and even recent investors who entered the market at slightly higher levels have benefitted from the upward trend. This surge has also brought renewed attention to gold as an asset, not only as a long-term investment but as a tool for turning a quick profit in the current market.
If you’re contemplating entering the gold market amid these soaring prices, though, it’s important to make strategic choices on what you invest in. In this environment, certain gold assets may offer bigger advantages than others — so you’ll want to pick your gold investments wisely.
Reference: CBSNews