Investors in the global gold market predict that the price of the precious metal will be unprecedented next year.

Gold is on the path for a 13% annual growth in 2023, its best time since 2020, trading at around $2,020 an ounce. According to the surprisingly strong performance of gold in 2023, we will witness further increase in prices in 2024.

Gold hit a high of $2,135.40 on December 4, 2023, with the US monetary policy easing in early 2024.

JPMorgan predicted that in mid-2024, gold prices would rise and the price would peak at $2,300 following a rate cut.