Gold fragments on a balance scale

Gold Price Outlook

Gold prices gained some ground over the past month, likely due to a weaker USD and U.S. 10-year bond yield, as well as rising inflation concerns amid ongoing global supply bottlenecks. On 5 November, gold closed the day at USD 1,810 per troy ounce, which was 3.2% higher than on the same day of the previous month. However, the price was down 4.6% on a year-to-date basis and was 7.1% lower than on the same day last year. Gold prices were up in early November relative to the same time in October, as a disappointing jobs report for October and moderating manufacturing activity in the U.S. weighed on the dollar and the U.S. 10-year yield rate, which likely supported demand for the yellow metal. Moreover, concerns around inflation due to ongoing supply disruptions, higher energy prices and looser Covid-19 restrictions globally should have continued to support gold prices. That being said, the Fed’s recent decision to ease the pace of its QE purchases should have capped the overall rise in gold prices.

Gold Price History Data (USD per troy ounce, aop)

2015  2016  2017  2018  2019  
Gold 1159.8  1248.54  1258.46  1269.41  1393.23  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Gold Historical Price Chart


Gold historical price chart
Note: London Bullion Market Association (LBMA) Gold, prices in USD per troy ounce (toz). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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