Gold outpaces major assets with 12% surge in 2024

Gold has performed remarkably well in 2024, rising by 12% year-to-date and outpacing most major asset classes. Gold has thus far benefitted from continued central bank buying, Asian investment flows, resilient consumer demand, and a steady drumbeat of geopolitical uncertainty. As we look forward, the key question in investors’ minds is whether gold’s momentum can continue or if it’s running out of steam.