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What is the outlook for the current gold bull market? Author: Chen Daotian. The current gold bull market has been ongoing since early 2024, with prices rising from $2,000 per ounce to $4,000 per ounce (unit in USD/ounce). After nearly two years of rapid growth, gold prices suddenly experienced a significant decline on October 21, with the maximum correction reaching nearly 10% by October 31. What are the reasons behind this gold bull market, and what is the future trend? This article will examine four hypotheses regarding gold prices and analyze future price movements. How much do you know about gold? According to the World Gold Council, the total existing gold stock worldwide in 2024 is 216,000 tons. Although this is the result of thousands of years of human mining, half of the gold mined since World War II is included in this total. In terms of usage distribution, 17% is official reserves, jewelry accounts for 46%, private investment makes up 22%, and industrial use is 15%. The global gold production in 2024 reached 3,661 tons, a 0.6% increase year-on-year, setting a new record. Currently, proven underground gold reserves (economically viable).

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