Over the past year, gold prices have experienced significant fluctuations. In late September 2023, gold opened at around $1945 and started a rising trend, reaching $1994 by October 20, 2023.
Gold continued to rise, hitting the $2000 mark in early November 2023. The upward trajectory continued into the new year, peaking at approximately $2095 by early March 2024 and then escalating sharply to around $2345 by early April 2024. The metal surged past $2400 in late April, peaking at $2522 in early August 2024.
In mid-August 2024, gold prices momentarily dipped but stabilized around the mid-$2500 range. The end of August saw some consolidation before a significant leap above $2600 on September 19, 2024, after the Federal Reserve announced its first interest rate cut since 2020.
Most recently amid increasing geopolitical tensions in the Middle East, on September 20, 2024, gold closed at $2646.2, continuing to reflect strong demand for the precious metal driven by economic factors and global uncertainties.
