Gold soon to 3,000 USD?: Gold price before a furious start to the year. Barrick Gold, Newmont & Co. before rally?

Gold will end the 2024 stock market year quietly. The momentum has been lost from the precious metal since the Fed meeting on December 18th at the latest. But the calm could soon be over for the gold price.

Gold – Is it the proverbial calm before the storm?

The gold price can look back on a very successful stock market year in 2024. The start of the year was a bit crazy. Gold hovered around $2,050 and threatened to slip well below the psychologically important $2,000 mark in February. However, the “attack of weakness” at that time formed the basis for the precious metal’s impressive price rally. Gold prices took off. At the end of October it finally reached its current record high. Reaching $2,800 supposedly opens the door towards $3,000, but then profit-taking sets in. Gold has since consolidated and gained new strength. Consolidation phases, provided they proceed in an orderly manner, are of central importance for the sustainability of upward movements.

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