Fear, Greed & Ten Reasons to Buy Bullion in 2024
Gold recorded solid gains in 2023, with the precious metal rising by approximately 13%, and finishing the year trading above USD $2,050 and AUD $3,000 per troy ounce (oz). While silver lagged gold performance wise across the year as a whole, it also finished 2023 on stronger footing, rising by more than 10% in the final quarter of the year. The increase in precious metal prices has been particularly notable given it has occurred against a backdrop of:A rebound in global property prices An easing in global headline inflationary pressures Continued outflows from gold ETFs, and A stunning resurgence in the stock market that has seen CNNs Fear and Greed Index (see below image) approach the end of the 2023 with an Extreme Greed reading. Investors also ended last year with an underweight position in commodities relative to bonds that has not been seen since 2009, according to the latest Bank of America Global Fund Manager Survey. Combined, the above factors bode well for...