Gold surged close to a seven-year high on Tuesday, as investors sentiments remained very fragile amid coronavirus concerns. Apple on Monday said it does not expect to meet its second-quarter forecast for revenue due to weaker demand from the Chinese market. Gold prices rose nearly 0.8% to $1,600 an ounce around 10:45 AM NY time. Gold - data, forecasts, historical chart - was last updated on February of 2020.
Historically, Gold reached an all time high of 1920.30 in September of 2011.
Gold is expected to trade at 1596.90 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 1642.77 in 12 months time.