The gold price has skyrocketed in recent years. Even interest rate increases by central banks cannot influence the price of the precious metal. But as both states and private individuals hoard more and more gold, its value could rise significantly again.
In fact, the development of the gold price is impressive: a year ago it was below $2,000 per ton, now it is around $2,400 – a record high. The experts at the Liechtenstein asset manager Incrementum AG believe that the upward trend will continue. The “Krone” analyzes the reasons and which courses are possible until when.
Gold Price Has ‘Breakout’ According to Chart Analysis
According to fund managers Ronald-Peter Stöferle and Mark Valek from Incrementum AG, the gold price has “broken out” based on the chart analysis, i.e. it has overcome many price technical barriers and can therefore continue to rise unchecked. Since the beginning of the year, gains of about 13 percent in US dollars, 17 percent in euros and 26 percent in Japanese yen have been achieved. “The gold price has developed remarkably over the past twelve months, but especially in the spring of 2024,” Stöferle said.
Source: Krone
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