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Gold’s record year
In 2023, gold had a remarkable year with its price soaring above $2,000 per ounce and remaining at that level throughout the closing weeks of the year and into the first months of 2024. The Australian gold price also reached over $3,000 per ounce in late 2023 and has maintained this value, supported by the Australian dollar remaining under 67 US cents. Several factors favored gold during the year, as noted in the World Gold Council's (WGC) annual review. These included geopolitical events like the October 7 attack by Hamas on Israel, Israel's counter assault on Gaza, and increased attacks on shipping in the Red Sea. ... (full story)