On January 1, an ounce of the precious metal was priced at approximately $2,062 — by October 25, prices reached an annual high of $2,788, reflecting a growth of 35.20%. Since then, the price of the metal has decreased to $2,611 per ounce, but the year-to-date return remains an impressive 26.55%.
Starting in July, gold prices consistently broke new historical highs (ATH). Although the momentum has somewhat weakened over the past two months due to reduced political uncertainty in the United States and a strengthening dollar, it is quite possible that this is merely a temporary slowdown in growth.
As global political tensions show no signs of improvement and significant inflationary pressures are still fresh in memory, gold's dual appeal — as an asset that has recently yielded extraordinary profits and as a means of preserving value — remains unchanged.
The next significant price milestone is the $3,000 mark — the pressing question for investors is whether the rally can regain and sustain sufficient strength to surpass this threshold.