Precious Metals Rally Continues: Gold Up 25% in 2024 Amid Geopolitical Shifts

Gold demonstrated resilience by advancing to $3,340.83 per ounce even after US Commerce Secretary Howard Lutnick and China’s trade representative Li Chenggang announced a framework agreement to ease trade tensions following London talks. While such diplomatic progress typically weakens demand for safe-haven assets like gold, the metal’s continued strength suggests investors remain skeptical and are awaiting concrete developments. The precious metal has gained over 25% in 2024, driven by President Trump’s aggressive tariff policies and shifting geopolitical dynamics. Central banks have emerged as significant buyers, seeking to reduce their exposure to US assets. Other precious metals also performed well, with […]