Gold fragments on a balance scale

Gold Price Outlook

Gold prices fell steadily in the second half of June, although they regained some lost ground in the first few days of July. On 6 July, gold closed the trading day at USD 1,255 per troy ounce, which was down 3.4% from the same day of the previous month and one of the lowest levels seen this year. July’s price was 3.7% lower on a year-to-date basis, but still came in slightly above last year’s levels and was up 2.6% from the same day in 2017. A firmer U.S. dollar and rising U.S. interest rates have been chiefly been behind the downward trend in gold prices seen in recent months. The Federal Reserve hiked interest rates for a seventh time since the financial crisis in mid-June, further eroding gold’s attractiveness as an investment compared to yield-bearing assets. In addition, gold demand has been weak in Asia, weighing on prices. Data from India, the world’s second-largest consumer of gold, revealed that gold imports fell by around 40% in the first half of 2018. Meanwhile, high political uncertainty worldwide continues to provide some support to gold prices, as fears of a global trade war have risen in recent weeks, amid tit-for-tat tariffs levied by the U.S. and its trading partners.

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

2013  2014  2015  2016  2017  
Gold1410.71  1265.83  1159.8  1248.54  1258.46  

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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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