Is it too late to invest in gold in 2024?

Would it still be viable to accumulate a gold stockpile at the beginning of 2024?

While you are enjoying this article which is of a complementary value filled with great ideas that can help you arrive at the right investment decisions.

You are among those who bought gold in 2023, and you are now one of the investor who has become wealthier than ever. The price of gold has set firework in the sky throughout the year, propelled by about 2,077 to 3,092 U. S. dollars per ounce, and an unparalleled new high this month even exceeding 2,431 U. S. dollars. The 43 per cent hike, or 55 per ounce, which is $17 per higher than before is the new cost.

With Australian dollars in mind the figures are looking far better than they would have had been, had it not been because the Australian dollar was devaluated against the US dollar. For example, on the 1st of January gold was $3,038 per ounce, but now the new highs even exceeded this value with the peak of $3,764 per ounce in Australian dollars this month. This is a considerable 23333 increase from the previous value. As gold prices zoomed higher, 9 per cent of the value of gold for the Australian investors.

Unlike real-time purchases of physical gold bullion bars or coins that are a common investment scenario, such options are far from being exclusive to that direction. There is a huge variety of investment instruments now for investing in gold without having to own it physically.

As far as the selection of investment tool is concerned, ETFs of gold are simply one of the many options and they have been getting insanely popular throughout the recent years. Examples of gold ETFs on the ASX include the Perth Mint Gold ETF (ASX: Within the Australian ETF domain, the Perth Mint Gold (ASX: PMGOLD), the Global X Physical Gold ETF (ASX: GOLD), the VanEck Gold Bullion ETF (ASX: NUGG), and the BetaShares Gold Bullion – Currency Hedged ETF (ASX: QAU) feature.

The au of the ASX can also be merchandised through gold mining stocks, or gold mining ETFs, for which carry more risk and possibly more returns. Some of the major ASX-listed gold miners include Newmont Corporation (ASX: Other examples involving ASX listed companies are NEM, Northern Star Resources Ltd (ASX: NST), and Gold Road Resources Ltd (ASX: GOR).

Another gold miners ETF is a fund that is listed on the Australian stock exchange and this ETF also provides exposure to a diversified composite of gold miners from various parts of the world. The VanEck Gold Miners ETF (ASX: GDX) is a category not so unique one.

The question as to whether it is already late to invest in gold in 2024 or not replays every year in investors’ minds.

Due to raising of the price level of gold in 2024, the investors who are new and potential are quite likely to be curious if they can be part of the party now.

Certainly, for the folks who can not but, nowadays is not the best time for them. Although gold is sharply down this week, less geopolitical tension in the world, it has gained to trading price of around US$2,360 per ounce, which is at a historical high. The price that a guadagoguapa month ago is already breaking its previous record.

Through the years, a gold cycle’s behavior appears to go up and down in a swift movement pattern, and this is something, it then rises againComing back, in another sense, we have witnessed many cases during which gold has been shooting up to new highs and then nearly everyone sees it go down and stay down for a few years. Let’s take an example, in 2011 it reached its peak; it has been a bad dive since then and in 2015 it lost nearly fake 50% of its value and that was a really terrible decade for those who made big investments.

Therefore, it cannot be rational to consider the purchase of gold at the current near-record high price, in order to get physical bars or realizing future return through miners or ETFs. It is likely that, of course, the price may be the rising cost but, it is highly possible that it trend towards the stability or continues the drop in the next years and months.

This is a saying commonly attributed to Warren Buffet; you must be aware that he is right especially when someone is unrealistically optimistic. To reiterate, ‘what has been sold in the market too dear can be sold in the market dear again’. And that holds even for gold equities. These stocks can be bought when the market sentiment is not ebullient.

If $1,000 spare, what to do is one of the questions that cannot bore me.

Scott Phillips may not be the average country boy but he has been a well-known and successful investor for quite some time and his investment tips are a good source of advice. Nevertheless, the two decades flagship Motley Fool Share Advisor has been functioning, have brought really big returns that its subscribers keep to this day.

By Scott, the stocks are shown which he thinks are the ‘ten most promising ASX listed stocks’ to be having a deep look at now. The stocks that he thinks are currently trading at much-undervalued valuations, and he thinks they are fundamentally attractive businesses with tremendous upside are the stocks that he believes providing compelling investment opportunities at this moment.