Here is how the price of gold has increased compared to a year ago

THE gold price is about to break another record … again. At the price of $ 3,430.21 per ounce on July 23, gold could soon take a new step $ 3,500. And the ascending trajectory is unlikely to stop there because many experts are currently predicting a price of $ 4,000 per ounceMaybe later in 2025.

This coherent increase in prices is easy to understand. With inflation A major concern in recent years, the rate has increased in May and June, and the role of Gold as a reliable hedge Thanks to a coherent value, investors move again to yellow metal for the protection of the wallet.

In this climate, however, it is useful to understand how far the price of gold has increased compared to only a year ago. This is essential information both for current investors interested in knowing exactly how much their investment has increased as well as beginners Given an entry price before imminent price increases. Below, we decompose what the two groups of investors should know at the moment.

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Here is how the price of gold has increased compared to a year ago

The price of gold per ounce on July 23, 2024 was $ 2,409.39, according to American Hartford Gold. This means that the price increased by $ 1,020.82 compared to a year ago, or another means, the price of gold is up more than 42%. It would be a remarkable growth for any active, but it is even more impressive for gold given the traditional advantages normally associated with metal. More known as an income protector thanks to its compensation for inflation and Portfolio diversification Capacities, gold has also become a means for informed investors to make a rapid profit.

And there is ways to be invested without having to pay this highest price And without having to buy gold by ounce. Bars and parts of split goldFor example, come in amounts of a fraction of an ounce, offering investors an affordable entry price while obtaining the advantages of an active assets quickly. The average cost in dollars, on the other hand, in which investors buy gold portions at the same price on a routine basis, also deserves to be explored for those who want the advantages that gold investment can offer but does not want to be stuck to pay thousands of dollars in advance to secure it.

It should also be noted that gold is omnipresent now, probably more than ever. With it is available for purchase via the top Golden Companies will go online, local dealers and large -scale retailers such as Costco and WalmartIt should not be difficult to start in the gold investment space at the moment.

All this said, even with price overvoltage, traditional advice for limiting your gold investment to a maximum of 10% of your global portfolio remains true. So, if you are invested in the metal now but below this threshold, you still have space to add more. And if you don’t just start, there is a lot of room to work.

Regardless of the group of investors in which you fall, however, it is intelligent to act as soon as possible. With a price leap of 42% in just 365 days, the wait could mean a price entirely on the gold market, even if you plan to use one of the strategic investment strategies described above.

Find out more about investing in gold in a high price environment today here.

The bottom line

The price of gold is considerably increasing compared to this same point last July, emphasizing the need for investors to take measures now before the price (and the protections offered by the metal) become fully out of reach. But do not jump on the precious metal market. Consider contacting a trusted financial advisor to determine the amount of gold to invest and when to start, because there are calendar dates on the horizon for the time the price is likely to change again. But with a strategic and enlightened approach, you can still benefit from a gold investment, even with the high price and up at the moment.