The Fed Alone Can’t Make Gold Sparkle in 2024

Updated Dec. 29, 2023 4:23 pm ET

On the fifth day of Christmas my true love sent to me: five gold rings, which turned out to be much more expensive than a year ago. The key investment question is whether they will be worth even more by the time next Christmas comes around.

New York gold futures closed at $2,062.40 an ounce Friday, ending the year with a 13.34% gain and very near the record close of $2,081.90 reached Wednesday. This snaps a two-year losing streak.

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