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Source: Parkers Research Institute

2024 is undoubtedly a golden year.

After a brief adjustment, the international gold price rebounded in July and hit a new record high. As of July 31, the closing price of COMEX gold was $2,493.4 per ounce, up more than 20% from the beginning of the year (US$2,071.8 per ounce).

(Data source: Wind,

Statistical period: 2024/1/1-2024/7/31)

I believe many people will ask: "Why does gold keep rising?" "What is the logic behind the rise in gold prices?" Let's talk about this topic today.

Why is gold rising?

1. Global geopolitical impact

During periods of geopolitical tension, market uncertainty increases, and gold, as a traditional safe-haven asset, becomes more attractive, and investors tend to flock to gold for safe havens. This year, geopolitical conflicts continue to ferment, and global geopolitical influences have also contributed to the rise in gold prices.