According to CBS News, the world gold price is on a strong breakthrough, closer than ever to 3,000 USD/ounce.
From the beginning of 2024 to now, this precious metal price has increased by nearly 40%, currently fluctuating around 2,861.95 USD/ounce (as of 6am on 9.2 Vietnam time). Can gold break this historic milestone right in February?
CBS News pointed out 3 factors that can push gold price exceeding $ 3,000/ounce in this February.
Firstly, inflation continues to escalate. Gold has long been considered an effective anti -inflationary fence. If the US January inflation report (expected to be published on December 12) shows that the new increase, gold price may continue to soar. Experts say that this trend can occur when inflation has increased in a row in the last 3 months of 2024.
Second, geopolitical tensions escalate. Global instability makes investors find gold as a safe shelter. If new fluctuations on the international arena appear, gold demand may increase suddenly, leading to a new record.
Third, the financial market fluctuates. The US stock market has just gone through a sharp decline before recovery. If the momentum is prolonged, investors can pour capital into gold to protect the property, making the price of gold increasing sharply.
Answering the question of whether or not investing gold right now, CBS News pointed out, with the ability to preserve the value before inflation, diversifying the portfolio and the potential to increase prices in a short time, gold is becoming a choice Attractive for investors. If gold price exceeds 3,000 USD/ounce, the opportunity to buy gold at a low price will be more and more difficult.
