Note: This text is a translation from the original language, German.
After rising to $2100 per ounce, the gold price stabilized around the $2000 mark, confirming its safe-haven status amid market uncertainties. Tobias Tretter of Commodity Capital AG is optimistic about the outlook for gold in 2024, citing strong support at $1900-$2000. Despite lower investor demand, Tretter sees gold stocks well positioned for leverage and diversification. Geopolitical tensions, persistent inflation and low real interest rates are likely to drive the gold price in the coming years and herald a promising chapter for the precious metal. Access the full article below (available in German).