Gold has been on a parabolic run since final October, rising from close to the $1,800 stage to consecutive all-time highs – not as soon as, not twice, however 37 occasions thus far this yr.
Sure, you learn that accurately. That is 37 all-time highs, thus far in 2024.
On Tuesday, gold costs soared to a brand new all-time excessive of $2,758 per ounce, surpassing the earlier all-time excessive of $2,749 per ounce for valuable metals reached only a day earlier – squeezing good points from that time by as a lot as 53% enlarged. 12 months in the past.
Based on GSC Commodity Intelligence: “Gold’s record-breaking efficiency was nothing in need of spectacular. By no means earlier than in historical past have we seen the dear steel attain a number of consecutive document highs in such a short while.”
Gold enters ‘new period’ as costs soar to document highs for the fifth consecutive quarter
And this may very well be only the start!
If historical past is something to go by, earlier Gold Supercycles recommend that is only the start of a a lot greater step ahead.