Trading Gold with CFD

Global gold prices have reached historic highs this month, extending a year-end surge that may persist if the anticipated slowdown in the US economy materializes, according to a report from the World Gold Council. In its 2024 outlook, the market development group for the global gold industry presented potential scenarios for the upcoming year. The two most likely outcomes - a soft economic landing or a recession - both suggest an upward trajectory for gold prices.

In the world of financial markets, certain assets have consistently stood the test of time as reliable sources of value and security. Among these, gold has held a prominent position for centuries, earning its reputation as a safe haven and a store of wealth. As we navigate the year 2023, a landscape marked by evolving economic dynamics and global uncertainties, the allure of gold as a strategic addition to trading portfolios remains as strong as ever.

Precious metals such as gold, silver, platinum, and palladium have been valued for centuries for their rarity, beauty, and durability. While these metals are often used in jewelry, they also have many industrial and technological applications. Additionally, precious metals have long been seen as a hedge against inflation and a safe haven for investors during times of economic turmoil.

On February 24, at five o'clock in the morning, like Nazi Germany, the army of the Russian Federation invaded the sovereign and the independent state of Ukraine. The open confrontation against Ukraine's statehood was called a "special military operation" by Russian President Putin, which triggered a mixed reaction from financial markets, including the currency, stock, and cryptocurrency ones. First of all, the reaction took place in the safe-haven assets (gold, Swiss franc, and US dollar), which showed considerable gains.