For the first time in history, the price of a standard 400 troy ounce gold bar has surpassed $1 million. This milestone was reached in August 2024 when spot gold prices exceeded $2,500 per ounce, driven by factors such as inflation concerns, anticipated interest rate cuts, and increased geopolitical tensions. www.multilinks.biz
Investors are turning to gold as a safe-haven asset to preserve wealth amid economic uncertainties. Central banks, particularly in countries like China, have been increasing their gold reserves to reduce reliance on the U.S. dollar . Additionally, the ultra-wealthy are purchasing physical gold not primarily for profit but as a means to safeguard their assets. www.multilinks.biz
This surge in gold prices reflects a broader trend of investors seeking stability in tangible assets during volatile economic periods.
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