Gold prices are on track for one of the largest annual gains in history, up 26% this year. The surge is driven by US monetary policy easing, ongoing geopolitical tensions, and central bank purchases. Despite a brief decline after Donald Trump’s election victory in November, gold’s gains over 2024 surpass most other commodities. In contrast, base metals have seen a mixed performance, while iron ore has plummeted and lithium’s value has decreased.
Source: https://www.bloomberg.com/news/articles/2024-12-30/gold-s-27-advance-stands-out-in-mixed-year-for-metals-markets