Gold Price - September 2024
(Prices per ounce)
Start: US $2,503
Close: US $2,635
Highest: US $2,683 (Sep-26)
Lowest: US $2,473 (Sep-4)
SEPTEMBER 2024 GOLD SPOT PRICE (US DOLLARS PER OUNCE)
Source: TradingView
Highlights
September was an exhilarating month for gold, setting all-time-high records on an almost daily basis. Gold started the month at US $2,503 / oz and, after a minor decline marking its lowest level of the month (US $2,473 / oz on September 4th), it continued its upward trend never returning below the US $2,500 / oz level. Less than 30 days after having surpassed the US $2,500 / oz mark for the first time in history (August 16, 2024), gold broke the US $2,600 / oz level on September 20th, remaining above such level for the rest of the month, setting an all-time-high record at US $2,683 / oz on September 26th, and closing the month above US $2,600 / oz for the first time ever (US $2,635 / oz on September 30).
The balance of the month was a strong + 4.56% increase in price, equivalent to + US $132 / oz.
As of September 30, 2024, gold's accrued price performance is:
1-Month: + 4.56%
6-Months: + 14.61%
Year to Date: + 27.77%
1-Year: + 42.57%
5 Years: + 79.01%
In the News
Carey MacRury from Canaccord Genuity presents his latest report titled “The case for gold and gold equities”, highlighting the slowing economy, record-high debt levels and rising geopolitical tension as the core drivers fueling the strength of gold.
In MarketWatch's "Gold Is at ‘Escape Velocity.’ That Could Be a Warning for Stocks" article, Karishma Vanjani explains how gold's current strength could be an indication on the stock market's expected performance.
JPMorgan Chase researchers expect gold to continue running towards their 2025 target price of US $2,850 / oz, as published by CNN's "Gold’s hitting new records again. Here’s what it means for the economy" article.
Quote of the Month
"Gold will be around, gold will be money when the dollar and the euro and the yuan and the ringgit are mere memories."
Richard Russell
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