2024 has been particularly favorable for the asset markets, with financial domains reporting some stellar metrics. A recent post by the Global Markets Investor has shared how 2024, in all its peculiarities, has displayed a “haywire” market arena, where financial investigators have noted a mix of “positive oddities” across gold, silver, stocks, and economic domains.
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2024: Bitcoin, Stocks, Silver, and Gold Rally
The Global Markets Investor took to X to share a detailed post outlining some of the most promising yet “craziest” financial developments this year. The post emphasized how the S&P 500 is up 22% this year, showcasing its best performance.
In addition, gold and silver have shown an incredible surge this year, displaying an upward ascent at a consistent pace. While gold has shown its best price performance in the last 45 years, silver, too, has rallied far along to gain recognition in the asset space.
“THIS IS ONE OF THE CRAZIEST YEARS IN THE MARKETS IN DECADES 1. The S&P 500 is up 22% year-to-date, having the best performance in 27 years and hitting 47 all-time highs this year. 2. Gold is up 32% and is on track for the best year in 45 YEARS. 3. Silver has rallied 42% to its highest level in 12 YEARS and is having its 5th-best year this century.”
Apart from outlining the positives amid the lot, the portal outlined how the oil prices have also been crashing lately, with Federal Banks worldwide cutting rates. The oddities displayed emphasized how 2024 collectively has significantly impacted each sector.
“Oil is crashing like a global recession is coming. 5. Utilities stocks are having one of the best years this century. 6. Global central banks are cutting rates as if a global recession is already here. 7. US public debt is skyrocketing as if there is a financial crisis or a war. 8. VIX and MOVE indexes (volatility of stocks and bonds) are trading like something bad is cooking in the markets.”
The current year has been quite an earnest journey. It was a mix of odd elements supporting certain sectors while dissociating from others. 2024 also saw rising gold metrics due to diverse geopolitical changes. At the same time, Bitcoin rallied to touch $67K, with predictions of it hitting $70K soon. Nevertheless, the juxtaposition of sectors has compelled investors to ponder hard on the current market’s momentum, trying to make sense of it all.
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These Assets Will Continue To Rally
Per CoinCodex, Bitcoin will continue to ascend to higher marks. Per CC, it may hit a new price mark of $91K by the end of mid-November 2024.
Image: CoinCodex
The gold price forecast has also been changed. AUX may steadily rise to claim the $3000 mark by the end of this year. The continued crowd momentum may bolster this event as Gold remains a number one hedge against recession-like situations.
Silver is also bound to increase as its commercial usage increases with each passing day.
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