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 | |
|---|---|---|---|---|---|
| Gold | 1410.71 | 1265.83 | 1159.8 | 1248.54 | 1258.46 |
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
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