Gold, a precious metal used to create jewelry, has seen a dramatic rise in price over the past few years.
This year, gold has risen nearly $4,000 per ounce.
So what are you waiting for?
Read more about the gold market.
The gold market has been on a steep rise since 2017, when gold prices spiked in late 2016.
At the time, investors were speculating that a massive surge in gold demand would lead to an even higher price for the metal.
This theory, however, didn’t pan out.
Instead, gold prices continued to fall.
Gold prices continue to hover around $2,600 per ounce for the time being.
This puts the price of gold around the same level it was at just a few years ago.
In other words, investors are still holding onto their precious metals, which has been the case for years.
If the gold price continues to hover in the $2K-3K range, it would put the global price of the metal well above $400 per ounce, which would give it an annualized return of 15% over the next year.
However, the current price of $2.3K would leave the market at about $200 per ounce and would be below the 30% annualized growth rate over the coming years.
For more on the gold and silver markets, check out our comprehensive guide to gold.
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