By Swann Collins, investor, writer and consultant in international affairs – Eurasia Business News. August 30, 2024. Article no 1200.

The price of gold has significantly increased in 2024, starting at approximately $2,063.73 per ounce and recently surpassing $2,500. Analysts predict that it could reach $3,000 per ounce soon, making September a strategic time to invest before prices potentially rise further. There are no signs of cooling, with many expecting the price to rise even further in the weeks and months ahead.

Quick Profit Potential

Current market conditions allow for the possibility of quick profits by buying and then selling gold bars and coins. Investors who purchased gold earlier this year could have already seen substantial gains. Waiting longer might result in missing out on this opportunity as prices continue to climb. A rising gold price offers investors a unique opportunity – the ability to sell it quickly at a profit. 

Portfolio Stability

Gold is traditionally viewed as a safe-haven asset that can provide stability in an investment portfolio, especially during economic downturns. Even with inflation rates currently cooling, gold remains a wise investment choice to hedge against future economic fluctuations. It is advisable to limit gold investments to about 10% of an overall portfolio to maintain balance with other assets.

Read also : Gold : Build Your Wealth and Freedom

Gold is a hard asset that keeps value in times of inflation. One gold coin will always feed your family for a week.

Gold is a long-term store of value and this storage capacity is standardized internationally. Each troy ounce of gold has the same value. The yellow metal is an asset with intrinsic value in itself, capable of maintaining its purchasing power throughout the centuries and around the world.

Donald Trump’s likely return to power in the United States next November is expected to further worsen relations between the United States and China and lead to an increase in geopolitical risks and demand for the precious metal. According to Paul Jouvenet, an essayist and consultant in international affairs, the difficult situation in the global economy against the backdrop of continuing inflationary pressure will support gold prices in the range of $2,500 – 2,700 per troy ounce by December 2024.

Buying gold bars and coins this September could be advantageous due to constantly rising prices over 2024, the potential for quick profits, and the stability gold offers in a diversified investment portfolio.

*the author is not a financial advisor. Investing in assets has a part of risk and potential loss.

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© Copyright 2024 – Eurasia Business News. Article no. 1200.