Gold Price OutlookGold prices averaged lower in April relative to March amid rising bond yields. Gold prices averaged USD 1,938 per troy ounce in April, which was 0.6% lower than March's price, and was up 10.1% from the same month last year. Meanwhile, on 29 April, gold closed the day at USD 1,908 per troy ounce, which was down 1.7% from the same day of the previous month. Gold prices declined notably towards the end of the month and heading into early May, as U.S. yields marched higher on expectations of rapid monetary tightening by the Fed. In particular, U.S. 10-year Treasuries reached around 3%—their highest level since 2018—making non-interest-bearing assets such as gold less attractive to investors and thus weighing on prices. However, gold still trades at elevated levels by recent historical standards, propped up by persistent geopolitical headwinds given the war in Ukraine, and by concerns over the strength of the global economy due to China’s zero-tolerance Covid-19 stance.
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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