Gold rebounded on Monday to put spot prices back above the $2,600 an ounce benchmark. Rallying on a flat dollar, gold spot prices were also buoyed by bargain hunters buying the dip during last week’s selloff.
The metal is still up 24% in 2024 even with the recent dip. Gold spot prices rose 3.4% in October after gaining 5.2% in September and advancing 2.2% in August.
Investors are now looking for signals on the Federal Reserve’s next moves before the December meeting. The Fed has been widely expected to continue interest rate cuts into 2025 as inflation has slowed to near target levels, although Fed Chairman Jerome Powell recently indicated that the central bank isn't necessarily in a rush to cut interest rates because of strong economic growth.
Conversely, there are shared concerns that over the possibility that President-elect Donald Trump’s proposed tariffs and tax cuts would spur inflation again.
Most investors are betting that the Fed will cut rates by another 25 basis points in December, ending the year at 4.25% to 4.50%, although some expect to see rates unchanged next month. Cutting interest rates would be considered bullish for precious metals.
2024 is winding to a close, after roughly 39 record all-time high closes for gold so far this year. Will we see another record-breaking rally before year's end or are gold spot prices set to settle at the current range before their next move up in this gold bull market?
Either way, spot prices are still well below the peak from earlier this fall, making now a perfect time to think about positioning your portfolio for 2025.
To that end, we're delighted to share our pre-sale offer of America's favorite gold coin, the 1 oz. Gold American Eagle.
The 2025 American Eagle will continue the new reverse design depicting a bald eagle in its natural habitat that was first released in 2021 to mark the 35th Anniversary of the program. The 1 oz. Gold Eagle is the bestselling gold coin in the global precious metals market. The 2025 edition is now available for pre-sale, and should ship around mid-January. Claim yours now!
Give us a call at 1-800-831-0007 or email us to place your order today.
Pre-Sale 2025 1 oz. American Gold Eagles
Just $xxx over Spot!
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 1 oz. gold. Free shipping, handling, and insurance are available for purchases of 10 oz. gold or more. Offer expires Friday November 22, 2024, or while supplies last.