Although the future is bleak, history doesn't stand still. This year, more than ever, a major turnaround is needed to avoid the worst. Like the previous years of this century, 2023 was in many ways earth-shattering and revolutionary.
The last trading days of the outgoing year 2023 gave gold prices an additional stimulus for growth. Since the beginning of the year, the yellow precious metal has also shown double-digit percentage growth in euros. This bodes well for the first quarter of next year 2024.
The past year 2023 will be remembered for extreme events: war in Europe, inflation, the banking crisis in the US and Switzerland, the Hamas attack on Israel followed by a retaliatory war, the budget crisis in Germany, and finally the US Federal Reserve's verbal reversal on interest rates.
The price of gold has reached a new all-time high in both dollars ($2146 per ounce) and euros (€1903). Bitcoin is also rising in price, but remains well below its 2021 high. There are very real reasons for this positive pricing.
Now that the global gold price has reached a 6-month high and exceeded $2,000 per ounce, U.S. banks Goldman Sachs and Bank of America have suddenly become positive about the yellow precious metal.
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