Gold outperforms all asset classes in 2024, rises 25.5% as geopolitical risks drive demand
World Gold Council report released today, gold rose 25.5% in 2024, likely due to its role as an effective hedge against the heightened geopolitical uncertainty.
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Over the course of the year the LBMA gold price set 40 new all-time highs (ATH), the most recent of which was US$2,777.80/oz on 30 October.
According to World Gold Council's, Gold Return Attribution Model gold’s positive performance was linked to strong central bank and investor demand, which offset declining consumer demand, heightened geopolitical risk due to increased conflicts, along with a busy electoral year across the world and periods of opportunity costs when markets saw lower yields and a weakening US dollar.
Market consensus expectations suggest a more modest performance for gold in 2025, but with the potential for upside catalysts as the year unfolds
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