Gold on the Rise: Experts Discuss Possible Price Peaks Until 2024

Gold has not only proven to be a reliable hedge against inflation and economic uncertainties, but it is also increasingly attracting the attention of investors. The precious metal reached a record high of $2,672 per ounce in September, raising the question of whether it could surpass the $3,000 mark by the end of 2024. Financial experts shed light on this matter and offer insightful perspectives that could influence future investment strategies. The discussion revolves around gold's potential to reach new highs and smart investment strategies to optimally leverage the current gold market. Some experts speculate that gold could reach the $3,000 mark as early as 2024, while others realistically target the year 2025. Two possible scenarios are presented. Financial planner Steven Kibbel from InternationalMoneyTransfer sees opportunities for gold to benefit from persistently high inflation or economic instability. Rate cuts and ongoing uncertainties could further drive up the gold price. However, Kibbel advises maintaining a more realistic target price of up to $2,800. On the other hand, Ed Mahaffy from ClientFirst Wealth Management is skeptical. He considers it unlikely that gold will surpass the $3,000 threshold by the end of 2024, but expects stabilization around current highs. Ruhee Rathod from Bario Neal also considers $2,850 to be possible, with $3,000 potentially not being reached until early 2025. As smart investment opportunities, Kibbel recommends integrating gold into a diversified portfolio rather than relying solely on short-term price spikes. Rathod and Kibbel mention five practical investment types: physical gold, ETFs and mutual funds, futures and mining companies, as well as balanced portfolio allocation. For investors, it is crucial to incorporate gold investments into the entirety of their financial strategy. Besides tax considerations, liquidity considerations should also be included. Informed advice from financial and tax experts can assist in the decision-making process.