Gold Price OutlookGold prices were broadly steady in recent weeks, as conflicting forces counteracted each other and a quiet news flow reduced volatility. On 1 December, gold closed the trading day at USD 1,283 per troy ounce, which was 0.5% higher than on the same day last month. While the price was up only marginally in month-on-month terms, gold prices have strengthened firmly this year, chiefly due to a weak U.S. dollar and geopolitical events. The price was 9.9% higher than on the same day last year and was up 10.8% on a year-to-date basis. Simmering military tensions across the globe, policy uncertainty in the U.S., and growing anti-status quo political movements have fueled geopolitical uncertainty this year, which has continued to support high gold prices in the past month. On the other hand, upbeat data on the U.S. economy suggests that the Federal Reserve will continue hiking interest rates in the coming quarters, weighing on demand for gold, which is not an interest-bearing investment. In November, data revealed that the U.S. economy grew faster than expected in Q3, expanding at the best pace in three years.
Gold Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Gold Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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