Currently, there are wars, rising inflation, rising interest rates of Real Estate Shares, and the global forex index that may bring huge opportunities for the Gold and Commodities sectors. Neither the Ukraine–Russia war is about to stop nor the Israel-Middle East war is about to stop. and these many of the biggest Stocks, Forex, and Commodities experts believe that Gold will rise in the next 1 year 2024 till year 2024. Can go up to $2500. The reason for this is due to some investment, government debt, and gold being considered as one of the top securities, the price of gold is increasing day by day. Because in this situation of inflation, double tax rate, and large investment, most of the impact of Bond Yield is falling not on Gold but on Forex and national currencies, hence many big investors and richest people are converting most of the money into Gold.
Why Gold price will spike in the year 2024?
Because they recently made huge profits during the pandemic gold is considered one of the top-level financial securities. Recently, China’s real estate and economic crisis within Asia has continuously strengthened gold. Although gold will not make you rich in a day, it means that gold can give you more profits in the long term. The reason for this is that recently we have seen worse, inflation rates, mortgage rates, interest rates, and many types of stocks falling. Recently, SpaceX and Tesla owner Elon Musk has said that he can withdraw all his money from SpaceX. Because Wars are becoming more frequent and now it seems that another front might open in the world.
And if the war continues elsewhere in the world, up to 50% of the US companies will convert it into gold, which may take the price of gold to approximately $5000. although such a major change will never happen, for a long time, may gold will reach at least $2500. Because the US and China may face the biggest economic crisis, inflation and recession rates are in danger, so in the Middle East, Europe, and Asia, if any disaster comes, then gold will rise again. By the way, due to the increase in gold, the US government and US companies will get maximum benefit as well as loss. USD can be strengthened by increasing the value of gold, but the countries whose economy is based on their local currency will suffer the most, and many countries will be forced to demand foreign debt.