Gold Shines Bright in 2024 Market.
Gold prices rose high this year. The precious metal gained 27 percent, marking one of its best years since 2000. Buyers rushed to gold as the U.S. changed its money policies. World tensions and bank buying pushed prices up further.
The metal lost some shine after Donald Trump won in November. Yet gold stands out among raw materials this year. Other metals showed mixed results. Iron prices fell hard. Lithium prices dropped even more.
The gold market changed its old rules. It went up even when the dollar grew stronger, surprising many experts. "Gold broke all expectations," said David Scutt from StoneX Group. The market plays by new rules."
China's slow growth hurt other metals. Copper and zinc faced some supply problems, which might last into next year. The London metal market saw small gains.
Building slowed down in China, which hit iron prices hard. Steel makers there faced big troubles, and iron prices dropped 28 percent this year.
Car makers bought less lithium. The market had more supply than buyers needed. Electric car sales slowed down. This made lithium prices fall for the second year.
Traders are watching three things for 2025. They wonder what U.S. banks will do with interest rates. They think about how Trump's choices might shake markets. They keep an eye on China's plans to grow its economy faster.
Gold prices rose high this year. The precious metal gained 27 percent, marking one of its best years since 2000. Buyers rushed to gold as the U.S. changed its money policies. World tensions and bank buying pushed prices up further.
The metal lost some shine after Donald Trump won in November. Yet gold stands out among raw materials this year. Other metals showed mixed results. Iron prices fell hard. Lithium prices dropped even more.
The gold market changed its old rules. It went up even when the dollar grew stronger, surprising many experts. "Gold broke all expectations," said David Scutt from StoneX Group. The market plays by new rules."
China's slow growth hurt other metals. Copper and zinc faced some supply problems, which might last into next year. The London metal market saw small gains.
Building slowed down in China, which hit iron prices hard. Steel makers there faced big troubles, and iron prices dropped 28 percent this year.
Car makers bought less lithium. The market had more supply than buyers needed. Electric car sales slowed down. This made lithium prices fall for the second year.
Traders are watching three things for 2025. They wonder what U.S. banks will do with interest rates. They think about how Trump's choices might shake markets. They keep an eye on China's plans to grow its economy faster.
