World gold prices have increased by more than 60% since the beginning of 2024, despite inflation cooling down from its peak in mid-2022. That proves one thing - gold is still a safe haven, a persistent investment channel in the context of global economic instability.
Here are 4 important things to know about gold prices in June and why taking action early can help investors take a step ahead of the market.
Prices are below the peak
World gold prices on the morning of June 1, Vietnam time, fell to about 3,288.3 USD/ounce, about 112 USD lower than the record of 3,400 USD at the end of April. However, many experts predict that gold prices could reach the $4,000 mark if market conditions are favorable. That is, the current price may be a "short-term fix" before increasing again.
Two golden time frames: June 11 and 18
The June economic calendar is very sensitive to gold prices. US May inflation figures will be released on June 11. On June 18, the US Federal Reserve (Fed) will hold a policy meeting. Both events could spike gold prices if the market sees signs of holding high interest rates or inflation remaining "hot".
Smart investors will look forward to these days not only to buy, but also to sell to make quick profits, if investing in the short term.
Gold prices only increase over time
Although there may be fluctuations in the short term, gold prices always increase in the long term. In early 2024, prices were only around $2,000/ounce - meaning that if investors hesitated, they would have missed more than 60% of potential profits.
There is still a way to invest even if you don't have much money
If you see gold at more than $3,000 an ounce as too high, don't worry. Investing infractional gold is a reasonable way to enter the market with low capital. In addition, the "dollar-cost averaging" strategy - buying periodically for small amounts - will help investors accumulate gold over time without worrying about high and low prices at any time.
However, experts still recommend that only a maximum of 10% of the portfolio should be invested in gold, so as not to affect other profitable investments.
