- The gold price has soared since the start of the year
- But this isn’t down to the usual drivers
Despite a backdrop of economic turmoil, the gold price held pretty steady between 2020 and 2023. This year has been a different story. As the chart below shows, gold hit a record high of $2,450 in May, and is now up 17 per cent since the start of the year. This is all the more interesting because it's not immediately clear what’s driving the growth.