Gold prices, highest annual gain in 46 years within reach…surged more than 60% through November
Suehyeon Lee
Summary
- Reported that gold prices rose 60.7% through November this year, making it likely to achieve the best annual performance in 46 years.
- Stated that gold recorded positive returns in 10 of the 11 months this year, continuing a 4-month consecutive rise.
- Kobeisi Letter evaluated that the recent rise in gold prices is comparable to past super bull markets.
Gold prices rose 6% in November alone, marking the fourth consecutive month of gains this year.
On the 1st (local time), according to Kobeisi Letter, gold prices rose 6% in November alone, continuing the consecutive rise following September (+11.9%) and October (+3.7%).
Gold recorded positive returns in 10 of the 11 months this year. Over this period, the price of gold rose a total of 60.7%, making it likely to achieve the best annual performance in 46 years since 1979. Kobeisi Letter said, "The recent trend corresponds to the fourth-strongest annual rise on a 100-year basis and is comparable to the super bull markets of 1973, 1974 and 1979."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
