Gold held its recent advance to around $1,840 an ounce on Friday and was headed for its first weekly gain since mid-April, as continued softness in US economic data amid the Federal Reserve’s aggressive monetary tightening fueled growth concerns. The Fed has raised its benchmark policy rate by an aggregate of 75 basis points this year, and is on track to increase it again in 50-basis point increments at each of the next two meetings in June and July. Fed Chair Jerome Powell also stated that the central bank was intent on using its tools to bring down multi-decade high inflation even if it involves moving past broadly understood neutral levels, raising the risk of a recession. Fears of a US economic slowdown dragged the dollar and US Treasury yields lower, benefitting the safe-haven gold.

Historically, Gold reached an all time high of 2074.88 in August of 2020. Gold - data, forecasts, historical chart - was last updated on May of 2022.

Gold is expected to trade at 1826.20 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1766.56 in 12 months time.

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Price Day Month Year
Gold 1,852.04 6.36 0.34% -2.41% -1.54%
Silver 21.87 0.120 0.55% -7.35% -21.33%
Copper 4.31 0.0250 0.58% -3.21% -5.19%
Steel 4,794.00 -23.00 -0.48% -5.01% -3.35%
Iron Ore 126.00 3.00 2.44% -13.99% -36.04%
Lithium 457,500.00 0 0% -4.79% 414.04%
Platinum 959.00 3.50 0.37% 4.15% -18.33%

Gold is mostly traded on the OTC London market, the US futures market (COMEX) and the Shanghai Gold Exchange (SGE). The standard future contract is 100 troy ounces. Gold is an attractive investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. The gold prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our gold prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
1852.69 1845.68 2074.88 34.83 1968 - 2022 USD/t oz. Daily