Towards the end of last month gold futures passed the giddy heights of $2,700. This move signalled a 42% rise in the price of gold since October 2022. And it wasn’t a gradual climb either in the 6 weeks or so before it had climbed from $2,400. Since then gold has experienced a small correction, and this is nothing to be worried about.
Yes, the multi-year bull run has been impressive, but it hasn’t been without periodic corrections. Although gold's long-term outlook remains robust, driven by factors like global economic uncertainty, inflationary pressures, and geopolitical tensions, its short-term price fluctuations can be unpredictable.
For now, we may see a real slow-down in gold’s bullish momentum. Minuted released from last month’s FOMC suggest that Fed rate cuts may be slow and steady. Long-term this is no bad thing at all, but short-term may see trader sentiment towards gold somewhat diminished. Long-term though, nothing has changed: wars continue to be fought, currencies continue to be devalued, government spending continues to be unsustainable and central banks continue to line their gold reserves in preparation for whatever lies ahead.
If you’re thinking about what you can do to prepare for the long-term, take a look at our news below. From buying coins, to investing tax-free you’ll be sure to find something that satisfies your investment needs.
This last week we have had several queries regarding gold and silver coin ownership. We have taken all of your questions (and more) and popped them into a handy YouTube video. From why you should buy bullion coins over collectibles, and which coins to consider, Jan Skoyles covers it all.
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