Gold fragments on a balance scale

Gold Price Outlook

Gold prices were largely unchanged throughout September and the start of October. On 5 October, gold closed the trading day at USD 1,202 per troy ounce, which was 0.4% higher than on the same day in the previous month. However, the price was down 7.8% on a year-to-date basis after having fallen steadily from April to August. In addition, October’s price was 5.6% lower than on the same day in 2017. The broad stability in prices comes despite recent monetary policy tightening in the United States. Although the U.S. Federal Reserve raised interest rates in September, which typically puts downward pressure on gold prices, the hike had been anticipated by markets and was already priced in to the gold price. Moreover, analysts are speculating whether the Federal Reserve is reaching the tail end of its hiking cycle, which is boosting the longer-term outlook for gold. On the demand side, the most recent data revealed that demand for gold dipped in the second quarter weighed on by subdued consumption from India and most ETF inflows. Nevertheless, demand is expected to recover in the second half of the year as India enters the festival season.

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

2013  2014  2015  2016  2017  
Gold1411.71  1111.83  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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