Here are the top news stories for gold and cryptocurrency in 2024:
Gold:
- Gold Price Surge:
- Gold reached new all-time highs in 2024, with prices peaking at $2,719 per ounce, a 28% increase, driven by investors seeking safe havens amid rising inflation and geopolitical tensions. Analysts predict a strong 2025 for gold, with some forecasts targeting $3,070 per ounce.
- Gold as a Financial Strategy:
- Gold has been seen as a diversification tool and a hedge against inflation. Its performance in 2024 was bolstered by expectations of Federal Reserve rate cuts, leading to gold briefly touching $2,600 per Troy ounce on the spot market in response to monetary policy changes.
- Investment Trends:
- Despite a slight pause in its upward trend, gold has been one of the top-performing assets, with a strong showing throughout the year, reaffirming its status as a stable investment compared to other assets like stocks or bonds.
Cryptocurrency:
- Bitcoin’s Performance:
- Bitcoin had an impressive year, soaring to around $64,711 by September 26, 2024, marking a 46% return from the start of the year. This performance was driven by key events like the Bitcoin halving and the launch of spot Bitcoin ETFs, which reduced supply and increased demand.
- Cryptocurrency Market Overview:
- The cryptocurrency market saw significant growth, with Bitcoin and Ethereum leading as the top cryptocurrencies by market cap. The approval of Bitcoin and Ethereum ETFs in January and July respectively, catalyzed their market performance. Ethereum’s price also increased by 41.8% year-to-date.
- Cryptocurrency and Gold Correlation:
- There was a noted correlation between Bitcoin and gold, with both assets outperforming others in 2024, partly due to expectations of a more lenient monetary policy by the Federal Reserve. This relationship was highlighted as Bitcoin and gold became the top two performing major assets.
- New Developments and Predictions:
- The year saw discussions about cryptocurrencies potentially exploding, with new projects like LayerZero planning token launches and the integration of AI in crypto markets. There’s also speculation on which cryptocurrency might be the next to see significant growth.
- Regulatory and Market Challenges:
- Despite the bullish trends, there were predictions of potential regulatory challenges, including a possible tug-of-war between different U.S. regulatory bodies and the impact of macroeconomic factors on cryptocurrency performance.
These stories encapsulate the dynamic interplay between gold and cryptocurrencies in 2024, where both served as notable investment vehicles amidst global economic and geopolitical uncertainties.
NEWS-REVIEWS 