Recession 2024 Australian Gold. Bulk gold — or bullion — surged above $us2,700 per ounce last week for the first time, extending its gain this year to 31 per cent. Australia technically avoided a recession in 2023, though living standards went backwards for most of the population.

If a severe economic downturn were to occur, gold’s performance would improve, potentially to the point where it breaches its record of $us2075 per ounce. Here’s what four leading economists tip could happen in.