Gold Price Outlook
Gold prices rose over the past month as an array of factors supported demand conditions, which were previously held back by talks of tapering by the Fed. On 10 September, gold closed the day at USD 1,794 per troy ounce, which was 3.9% higher than on the same day of the previous month. However, the price was down 5.4% on a year-to-date basis and was 8.4% lower than on the same day last year. U.S. inflation met analysts’ expectations in mid-August, which led markets to believe the Fed would refrain from easing its QE purchases as the peak of inflationary pressures was likely in the rearview mirror. Moreover, a lower U.S. 10-year bond rate in late August and some weakness in the USD in early September also supported gold demand by lowering the opportunity cost of holding non-interest bearing assets. In addition, despite the Fed hinting at tapering its QE program before year-end at its annual Jackson Hole Symposium, a U.S. jobs report in early September fell short of analysts’ projections, which left investors less concerned about the Fed tapering in the coming months and consequently drove gold prices higher.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 |
Sample Report
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Gold Historical Price Chart
Sample Report
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
© Copyright: 2021. | Gold Price | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
