Global Gold Prices Begin to Fall in Q4 2024

Market

Premium

Adi Ahdiat 06/01/2025 14:08 WIB

URL has been copied

Memuat...

Global gold prices strengthened significantly from Q4 2022 to Q3 2024. However, the trend reversed in Q4 2024.

Average Global Gold Price (January 2020-December 2024)*

A Small Font
A Medium Font
A Bigger Font

You are accessing content Single Data Premium.
To continue, please subscribe or buy individually.

Professional

Enjoy premium access with a more affordable price.

Start from

~~Rp300.000~~ 150.000/month

Access more premium content and exclusive features for customers.

Start from

50.000/month

Hanya Rp833 per artikel

More details »

Buy Retail

Read the article immediately “Global Gold Prices Begin to Fall in Q4 2024”.

Rp10.000

We accept the following payments:

Some payment methods are still in the process of being activated.

Average Global Gold Price (January 2020-December 2024)*

Download

Source

A Small Font
A Medium Font
A Bigger Font

Global gold prices strengthened significantly from Q4 2022 to Q3 2024. However, the trend reversed after entering Q4 2024.

According to World Bank data, at the end of October 2024, the average price of 99.5% fine gold (London Fix Afternoon Price) reached US$2,690 per troy ounce, an all-time high.

Then, in November 2024, the price began to weaken, and the decline continued into December 2024, reaching US$2,648 per troy ounce.

Nevertheless, the global gold price at the end of 2024 remained relatively high compared to previous years, as shown in the graph.

The World Bank projects that the average gold price in 2025 will fall by 1.1% compared to 2024, influenced by reduced gold demand from central banks and the jewelry industry.

However, they believe that gold prices could rise beyond expectations if the geopolitical situation intensifies.

"Further escalation of conflicts, particularly in Europe and the Middle East, could push gold prices beyond current projections," stated the World Bank in its October 2024 Commodity Markets Outlook report.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."