Gold Price OutlookGold prices recorded slight losses at the start of September, after steady rises seen throughout the past weeks. On 9 September, gold closed the trading day at USD 1,334 per troy ounce, which was 0.5% lower than on the same day in August. However, the price was up 25.6% on a year-to-date basis and was 20.2% higher than on the same day last year. Prices have broadly held onto gains made throughout the year and have been near a two-year high since late June. Strong investment demand has driven the rise in gold prices as investors flock to the safe-haven assets. In the second quarter of 2016, gold bought by investors expanded 141% over the same period last year, bringing investment for H1 to a record high. Behind the surge were concerns about the global growth outlook along with the low global interest rate environment. In addition, heightened political uncertainty related to the Brexit vote and the U.S. elections as well as shifting expectations over the timing of the next hike in U.S. interest rates contributed to rising demand. Recently, soft data has emerged from the U.S. economy, suggesting that an interest rate hike will be delayed.
Gold Price History Data (USD per troy ounce)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Note: London Bullion Market Association (LBMA) Gold, prices in USD per troy ounce (toz). Prices are average of period (aop).
Gold Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities