Gold’s Golden Future: 3 Key Factors Boosting its Prospects in 2024, Insights from Will Rhind

Will Rhind is the founder and the Chief Executive Officer of GraniteShares, a fast-growing Exchange Traded Fund (ETF) company headquartered in New York. Known for his in-depth expertise in commodities, Rhind has consistently championed the investment appeal of gold. Particularly, he sees 2024 as a significant year for gold, identifying three main factors expected to move in the precious metal’s favor. First on Rhind’s list is the constant push towards negative yields. Gold tends to perform well in environments with negative real yields because it offers a hedge for investors in such situations. That is, when inflation is higher than nominal interest rates, gold becomes an attractive option as it is often seen as a store of wealth. Rhind sees this trend continuing and expects more central banks around the world to move toward this monetary policy. Negative yields are a big part of the story, Rhind said recently. The trend has been towards lower and lower yields, and the market expects central banks to keep rate cuts in place for the foreseeable future. This environment places gold in a strong position as investors seek to hedge their bets and protect their wealth. The second factor, according to Rhind, is the escalating geopolitical tensions and uncertainties that often lead to higher demand for gold. The precious metal is typically seen as a ‘safe-haven’ investment in times of political and economic turmoil. Rhind visualizes escalation in geopolitical tensions which can increase the uncertainties in the economic environment. Such a scenario can lead to risk aversion among investors, pushing them to invest more in gold and causing its price to rise. Thirdly, Rhind points out the importance of market fundamentals. He contends that the overall market demand for gold remains quite strong. Specifically, he sees robust demand from central banks and retail investors, who have increasingly turned to physical gold as an investment. The increasing demand triggered by economic, financial, and political uncertainties, and the desires of central banks and investors globally to diversify their portfolios, will likely continue to push gold prices higher. Furthermore, Rhind perceives sustained growth in gold ETFs. He founded GraniteShares on the principle of providing lower cost alternatives for investors. Today, gold ETFs have become one of the easiest ways for investors to access the gold market without the logistical hassles of physical ownership, therefore, contributing to increased gold demand. Lastly, Rhind does not brush aside the volatility factor in gold prices. Still, he seems to regard it as a lesser caveat in the broader