Gold Price in 2024
(US Dollars per ounce)
During 2024, gold consolidated an outstanding gain of + US $578 / oz:
Start: US $2,046 (Jan-1)
Lowest: US $1,992 (Feb-14)
Highest: US $2,787 (Oct-30)
Close: US $2,624 (Dec-31)
Financial Performance
As of December 31, 2024, gold and silver's accrued price performance (in US Dollars), was:
🥇 Gold
1-Year: + 28.4%
5 Years: + 73.5%
🥈 Silver
1-Year: + 21.6%
5 Years: + 61.5%
Gold Against Other Investments
Gold's outstanding performance is better appreciated when compared against other financial investments. As seen below, in 2024 gold had stronger returns than the two main U.S. stock market indexes, beating the S&P 500 by 22% and the Dow Jones by a massive 120%. Even compared to the NASDAQ Composite technology-company index, gold had a comparable return, with a considerably lower risk:
🥇 Gold: + 28.4%
S&P 500: + 23.3%
Dow Jones: + 12.9%
NASDAQ: + 28.6%
Gold's Performance In Other Currencies
During 2024, gold proved to protect its holders' wealth by preserving their purchasing power despite the weakening of their local currencies. This was most evident for holders of currencies that lost value against the dollar during 2024:
2024 Gold
Currency Price Growth
🇺🇸 US Dollar: + 28.4%
🇬🇧 British Pound: + 30.5%
🇪🇺 Euro: + 36.8%
🇯🇵 Japanese Yen: + 43.2%
🇲🇽 Mexican Peso: + 57.8%
For holders of most currencies, gold not only protected their purchasing power in local-currency pricing terms. Gold preserved their purchasing power in US Dollars, while delivering a substantial +28.4% return on top of it.
Evolution
2024 GOLD SPOT PRICE (US DOLLARS PER OUNCE)
2024 was an exciting year for gold. The year started slow, with gold staying right above the US $2,000 / oz mark during the first 40 days of the year, followed by a brief decline on Feb -14, which took it to its lowest level of the year at US $1,992 / oz. From that point on, gold never looked back. March marked the start of a bullish rally, setting several consecutive record-highs until October 31st, when it set an all-time-high record price of US $2,787 / oz. Following the November 6th U.S. presidential elections, gold briefly receded to US $2,546 / oz, releasing the pressure accumulated over several weeks of uncertainty around a potentially disputed election. From that point on, gold regained its stability and remained above $2,600 / oz for the rest of the year, closing it at US $2,624 / oz on December 31st.
Quote of the Month
"Do not save what is left after spending;
instead spend what is left after saving."
Warren Buffett
U.S. investor and philanthropist
Protect your Savings
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