Gold Price OutlookGold prices have been volatile in recent weeks, but ultimately receded from the level at the start of April due to a strengthening of the U.S. dollar. On 11 May, gold closed the trading day at USD 1,321 per troy ounce, which was down 2.8% from the same day in April. Overall, gold prices have been volatile this year and now lie close to the value at the end of 2017; May’s price was 1.4% higher on a year-to-date basis. The figure, however, was up 7.9% from the same day last year. A resurgent U.S. dollar is chiefly behind the recent weakness in gold prices. The dollar has risen notably in past weeks thanks to the prospect of higher interest rates in the U.S. and higher yields on U.S. assets. A stronger dollar puts downward pressure on gold prices, as it makes gold more expensive for holders of other currencies and thereby reduces the demand. Outside of the dollar and rising global interest rates, some factors are supporting higher gold prices. In particular, global geopolitical uncertainty remains high, with prospects of a global trade war and tensions in the Middle East fueling safe haven demand for the metal.
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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