With the financial year coming to a close, we can see both gold and silver in AUD terms have had a fantastic result in FY24.
- Gold FY24 Performance (AUD): 21%
- Silver FY24 Performance (AUD): 28%
Gold posted strong gains on the back of an increase in both Central Bank demand and Chinese investment demand. Silver saw industrial demand for solar PV projects continue to rise and strong investment demand from both India and China overpowering the weaker demand seen in the US and other western markets.
The Guardian Gold team have put together an extensive market report, looking at the past financial year performance across many investment classes. Precious metals continue to prove themselves as an effective hedge against inflation, with prices rising despite a much higher interest rate environment.
To see the main economic drivers behind the precious metals markets, please read the full article by Guardian Gold by clicking the link below.
Guardian Gold – FY24 Report
