
Monthly Analysis Report
July 2024
Gold Price - June 2024
(Prices per ounce)
Start: $2,327
Average: $2,328
Close: $2,348
Highest: $2,382 (7-Jun)
Lowest: $2,294 (9-Jun)
JUN 2024 GOLD SPOT PRICE (US DOLLARS PER OUNCE)

Source: World Gold Council
Highlights
During June, gold reaffirmed its recently-established support level around the $2,300 / oz. During a mostly uneventful month, gold rose from $2,327 / oz on June 1st, to its highest level of the month on June 7 ($2,382 / oz), followed by a sharp decline leading to its lowest level of the month on June 9 ($2,294 / oz). Gold closed the month of June at $2,348 / oz.
The balance of the month was a moderate + 0.93% increase in price, equivalent to + $21 / oz. The average gold price during the month of June was $2,328 / oz.
As of June 30, 2024, gold's accrued price performance is:
1-Month: + 0.93%
6-Months: + 12.74%
Year to Date: + 12.74%
1-Year: + 22.15%
5 Years: + 66.03%
In the News
Based on the Theory of Money and Exter’s Inverse Pyramid, Jan Nieuwenhuijs makes a compelling case on "Why We Are at the Start of a Multi-Year Gold Bull Market" that could take gold to $8,000 / oz in the next decade.
ECR Research's most recent Gold Report analyzes the fundamental, geo-political and technical factors behind gold's current uptrend.
Rosenberg Research's "Why Gold is Glittering" makes a comprehensive case on why gold is headed for $3,000 / oz or higher.
Quote of the Month
"If the world does well, gold will be fine. If the world doesn't do well, gold will also do fine... but a lot of other things could collapse."
Thomas Kaplan
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