Zlato has completed the first term of 2024 and we can now state that it was very dreamy and generally interesting for him. In those months, lut metal pushed his paint to a new level, attacked one record after another and set new historical highs. And even when it didn’t hit its record position, it still held a good position.
Let’s take a quick look at the evolution of the gold price from the beginning of the year to the end of April:
Gold cut in until 2024 at the level of approx. 2,063 US / Oz (piblin 46,200 K / Oz) and in essence and until the end of the hole did not manifest itself in any significant way, which we saw in the price drop even below 2,000 USD / Oz. But at the meeting the gold bk began to wake up. lut metal rznji stepped on the imaginary gas pedal and the first day without a new one attacked 3msn maximum equal to about USD 2,082 / Oz, that is (piblin 48,800 K / Oz). Behind these first growth impulses were five mountains of data from the US economy (manufacturing, construction activity, labor market), rising inflation, and so the representative of the US central bank, the FED, responded to the dovish signals. The desired signs of a turnaround in monetary policy caused a positive mood in the markets, not excluding gold. Oi the market, investors then gradually turned to it on the day of the new FED meeting, which took place on 19.320.3 2024 and its subsequent press conference.
Right at the beginning of the new week, mine gave an update and gold was released, specifically on Monday, March 4, at the level of approx. 2,120 USD / Oz (approx. 49,500 K). On Friday the 8th, it was attacked by a value of 2,180 USD / Oz (approx. 50,400 K).
Next came the shower session and subsequent press conference of the FED, which revealed a spe in a neutral (not even fish and pigeon) signal. However, the market reacted to the waves of that positivity. Although the rates did not change, it was still reflected in the growth of the stock market and the base metal, which reached a record value of 2,200 USD / Oz. The information stated that the US economy is growing at a solid pace, inflation is cooling, but still not at the desired level of 2%. The unemployment rate is low and the economy is creating a solid number of new jobs. At the same time, it was heard that the reversal of the policy, and thus the dream of rates, will not happen until the FED will be sure that it is moving in the right direction and there will be no danger of an inflationary spiral.
Before the session, the price of gold hovered around USD 2,157/Oz (approx. 50,300 K), then fell to growth past the USD 2,200/Oz threshold, i.e. approx. USD 2,204/Oz (approx. 51,400 K).
The positive wave continued for several days, and gold reached USD 2,210 / Oz (approx. K 50,700). In the koruna, there was a sharp decrease due to the development of the Czech koruna, which also responded to the NB meeting, where the interest rate was cut by another 0.50% to 5.75%.
Until the end of the period, gold oscillated around 2,200 USD / Oz, took a breather and after the Easter holidays, started a rally and showed its muscles.
On the first of April, it was then pushed to the level of USD 2,254 / Oz (approx. 53,050 K), so that on April 4 it was defeated by another level, namely USD 2,300, specifically USD 2,302 / Oz (approx. 53,750 K). Before the weekend, i.e. on Friday, April 5, it subsequently fell to 2,330 USD / Oz, i.e. (approx. 54,350 K).
And after the weekend, when gold took a break, it went on a further growth and attacked it on Tuesday, April 9 at 2,363 USD / Oz (approx. 55,000 K).
New gold record
However, even that ride was not the end of the sleepy ride on which the lut metal embarked. On Friday, April 12, it crossed the threshold of USD 2,400 / Oz (approx. 56,700 K), reaching 2,431.55 USD / Oz (approx. 57,800 K), thus setting an all-time record.
Even though gold subsequently did not reach this historical level and gradually fell below 2,400 USD/Oz, it is possible that in the first months of this year it showed its strength and made its first tenth of a year in small, black ears. From the beginning of the year to the peak of that April 12, Piblin saw a 17.9% increase in dollar terms, and it was better in koruna terms, about 25%, due to the weakness of the koruna.
Now at the end of April we have seen values around USD 2,340 / Oz, so piblin 54,900 K / Oz.
Even though the monetary policy of the FED continues and the prospect of dream rates is currently probably out of sight, the signals are uncertain, gold is finding its way and maintaining its positions.
What the next month will bring is in the stars, as well as how the molten metal will react to the given situation, but we know that the engines for further growth are solidly set and I expect that this year will bring another record. Growing and growing geopolitical and economic problems and uneconomic black swans are a real problem, and gold is fully aware of it. He gave gold to ride so sweat me at any time, that’s why honey, this year the ride did not have the last word.
The evolution of the price of gold since the beginning of the year. Green day lover, setting a new record. Values at the end of the business day, even with regard to the development of the Czech crown:
