The gold market has experienced tremendous growth throughout 2024, drawing attention from both experienced and new investors. Gold prices began their meteoric rise in early March, reaching $2,160 per ounce — an 8% increase from the previous high set in December 2023. The upward trend continued in the months following, and the price of gold is now closing in on $2,800 per ounce.
That differs from investing in assets like stocks or bonds, which are financial instruments tied to market performance. As a result, gold isn't directly impacted by corporate earnings reports, interest rates or political decisions — at least not in the same way traditional securities are. Its value, while subject to market fluctuations, tends to move independently of stocks and bonds, offering a hedge against volatility in other parts of a portfolio.