Gold Price Forecast 2022
In its gold price predictions on 23 September, ANZ Research forecast the yellow metal to trade at $1,800 in September and $1,820 in December, bringing the 2022 average to $1,842. The bullion is expected to fall to $1,756 in 2023 and $1,555 in 2024.
In its gold price forecast for 2022 on 12 September, Bank of America Global Researchrevised its gold price prediction $1,938/ounce from $1,957/ounce in May.
On 1 September, Fitch Solutionsrevised its gold price estimate to $1,800/ounce in 2022, down from its previous forecast of $1,850/ounce due to various factors that pulled the precious metal to different direction. It expected gold prices to steady at $1,800 in 2023.
Ongoing recession fears, elevated geopolitical tensions stemming from Russia-Ukraine war and lingering risks from the pandemic itself are expected to support gold prices above its pre-Covid-19 level, Fitch Solutions said.
However, on the downside, rising vaccination rates were lessening risks of future Covid-19 outbreaks. Additionally, even though inflation was still above central banks targets in key markets that the firm tracked, inflationary pressure appeared to be decreasing.
Gold Price Forecast Today
The gold price dipped below the $1,700 mark for the first time in a one-and-a-half-year on July 21, amid growing recession fears that caused losses across risk assets.
However, gold pricesrebounded from a 2-1/2-year low on the close of Q3 as a pause in the U.S. dollarsrallyhelpedrestoregreenback-pricedbullionsallure, althoughrisks from looming rate hikespersisted.
Spot goldistradingabove the $1.700 level at the start of Q4 2022, a little bit of a recovery after some of the extreme weakness seen over recent days.
However, theres really any fundamental change taking place in the gold market as we’ll see in the next section, and the short-term gold price forecast hints at new lows below the $1.600 level.
Going ahead, the outlook remains negative for the near-term the gold price chart above shows. The current trend is bearish as indicated by a descending channel characterized by a series of lower highs and lower lows.
Traders will go short during a descending channel, usually after completing short-term counter-trends to key resistance levels.
However, once the channel is completed, traders will seek long opportunities to profit from any increases in price.
If the Gold price breaks above $1.800, the assets price could be about to experience an overall upward trend. If the $1800 resistance holds, the gold price could decrease in the future to as low as $1,450/oz, the low of March 2020.
Gold Price Predictions Compiled By Bloomberg
According to a Bloomberg news article dated November 20th, 2012, many analysts are bullish on gold.
Bloomberg has compiled gold price forecasts of 16 analysts. According to the median of their predictions, the price of gold will increase during every quarter in 2013 and average US$ 1,925oz in the last quarter that is 11% higher than now.
Tom Kendall from Credit Suisse estimates an average gold price of US$ 1,880 in the last quarter of 2013, Jochen Hitzfeld from UniCredit predicts US$ 1,950. For the third quarter of 2013, Deutsche Banks Daniel Brebner expects a gold price of US$ 2,300. According to Bloomberg, the three mentioned analysts were the most accurate gold forecasters tracked by Bloomberg over the past two years, with Tom Kendall being the most accurate forecaster followed by Jochen Hitzfeld and Daniel Brebner.
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Gold Price History May Not Repeatbut It Will Rhyme
One of the most important dynamics in the gold market is that it is cyclical, meaning it tends to follow cycles. This is true for most commodities and, indeed, for the economy as a whole.
This allows us to make some important assumptions about what the gold price will do in the coming years. From the late 1990s through the first decade of the 21st century, gold was in a protracted bull market. Prices rose from around $300 per troy ounce to as high as $1,900/oz in the aftermath of the global financial crisis in 2011.
Gold price chart over the past 10 years
This was followed by a bear market that lasted over seven years. Over the course of that subsequent bearish phase, gold prices lost roughly 35% when measured in U.S. dollars.
Beginning in 2019, the trend direction flipped back from bearish to bullish. We’re currently experiencing a pullback within a broader bull market phase. Based on the cyclical nature of the markets, the upward movement for gold prices is likely to remain intact for several more years.
This longer-term trend is perhaps even clearer in the 20-year price chart below:
Gold price chart over the past 20 years
Gold Price Prediction For 2028
Based on our technical analysis, the price of gold may not go up too well in 2028, especially within the first six months. However, our forecast doesnt show that the precious metal will drop. We project that even if the price shall fall, the minimum price throughout the year will be around $4,000.
Based on our analysis, the price of gold should be in the region of $4,008 by the end of June 2028. Within the last six months of the year, it is projected that the price will improve slightly and that gold will trade at $4,266 by year-end.
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Hsbc Lowers Average Gold Price Forecast For 2013 And Introduces Forecast For 2015
In early January 2013 James Steel, Chief Precious Metals Analyst, revised HSBCs predictions for the price of gold after factoring in a 2012 year-end price of 1,657 U.S. dollars per ounce. HSBC lowered its forecast for the average gold price in 2013 to 1,760 U.S. dollars/oz and expects the market to remain volatile. For 2014 the bank still predicts a price of 1,775 U.S. dollars an ounce. For 2015 it estimates an gold price of 1.675 U.S. dollars an ounce, the long-term forecast is 1,500 U.S. dollars.
According to Steel, gold prices will recover in 2013. Among the reasons given were the adoption of easing of monetary policy by major central banks, the likely recovery of Indian consumption, strong Chinese demand based on Chinas growing GDP and strong demand from central banks, particularly in emerging countries, which would keep accumulating gold as one strategy to diversify their foreign exchange holdings.
Gold Price Forecast 2030
A feasible gold price forecast 2030 is founded on US dollar movements due to the existing inverse correlation. In the event of geopolitical tensions, gold may find some support in its status as a safe haven. However, its upward momentum may be limited by a rise in the demand for the greenback.
Over the past eight years, gold price has risen by about 60%. However, an assumption that the bull market will continue over the next eight years makes a surge of 50% viable. In that case, the gold price forecast for 2030 will be for the precious metal to hit a high of about $2,700 an ounce.
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Why This Silver Price Prediction
What we are really interested in is catching those major moves in silver. Thats the reason why silver is top of our tracking list.
We write a lot about silver both in the public domain but also in our premium services. Silver has a track record of running very hard and fast, in both directions. There is a very good reason why silver is called the restless metal.
Silver came very close to a secular breakout in 2022, however the breakout was stopped cold by very aggressive monetary policy interventions in Q2/2022. Once the wave of monetary policy interventions will be over, which we ultimately expect as 2023 kicks off, we see the USD come down. This will make the silver market explosive!
Goldman Sachs Sees Gold Price At 1600 Us Dollars In 2020
Goldman Sachs precious metal analysts assume in a study the gold price to continue to rise next year due to economic and financial uncertainties.
According to the analysts, the main reason is increasing uncertainty due to the discussion about the Modern Monetary Theory , which is currently being fired especially in the US by democratic presidential candidates such as Bernie Sanders, as well as trade tensions and the approaching US presidential election.
According to Modern Monetary Theory, deficits and debt are generally considered relatively unproblematic as long as inflation remains low. In particular progressive supporters of this theory therefore frequently argue the state should make greater use of low interest rates for investments in infrastructure and social programs, even if this should lead to higher deficits and debt, and the government should increase growth and combat inequality through targeted spending.
Gold would still be regarded as a safe haven and an investment that is not correlated with other asset classes such as equities. In times of crisis or when there are perceived risks for the economic development, there would therefore be an increased demand for the precious metal.
According to Goldman Sachs, the described uncertainty may be one of the reasons why we see evidence of a non-ETF vaulted gold build, as high net worth individuals may want to store gold outside the financial system.
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Silvers Leading Indicator #: Euro
Precious metals need a rising Euro in order to shine.
If we look at the Euro chart on the longest timeframe we find 2 bearish targets: 0.9666 and ultimately 0.91-0.92. The first one was hit, the second one might be hit .
Stated differently, even though it might be that the U.S. Dollar has more upside , we believe that there is more downside risk in the USD than upside potential. Pending validation and an important pre-requisite for our bullish silver price forecast 2023 to materialize.
Factors That Are Affecting On Gold Price
Because gold is such a mature and established market, there are a number of factors that come into play when determining its price and how it is affected. Gold is also a rather unique asset compared to things like stocks and bonds, and that also makes it act differently and the fact that it operates as a hedge means one needs to look for factors that impact other assets differently.
A list of the factors to consider include: Consumption demand, Protection against volatility, Gold and inflation, Gold and interest rates, Good monsoon, Correlation with other asset classes, Geo political factors, Weakening dollar, Future gold demand.
Consumption demand has to do with the uses of gold as an asset removed from its market. Demand for gold keeps changing, and in recent times has been boosted as electronics manufacturers have seen the use of gold in their goods for conductivity.
Of course, gold is also consumed as jewelry, and there are big drives in demand even from global governments who seek out gold as a store of value that they keep in central banks.
As mentioned before, Gold is an asset that helps with protection against volatility. There is a demand for gold from people who are looking to protect themselves from volatility and uncertainty. Gold is a physical asset so it is able to be stored and kept by individuals, and its market moves differently from typical volatile markets so it is in demand for people hedging against uncertainty.
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What Was The Highest Gold Price In History
The all-time high value of gold in USD terms is $2056 per ounce, reached in 2020.
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Gold Price Predictions For 2022 And Beyond: Should You Buy Or Sell The Precious Metal
Concerns about global economic growth, driven by persistent inflation and heightened geopolitical risks, should protect gold prices to some extent.
High volatility has been affecting stocks since early 2022. Meanwhile, golds price growth has been fairly steady and the uptrend continues. Inflation is the core factor affecting gold prices recently. This is the highest rate in the United States in the past four decades. Golds status as a top hedge against diluting the purchasing power of fiat currencies could push prices further above $2,000 an ounce.
Meanwhile, gold production is expected to expand by 2023, given that prices are well above production costs. Uncertainty over the end of the recession and higher inflation could push gold prices higher.
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Summary: What Is The Future Of The Gold
In the world of investing, there is of course always going to be risk and potential for loss. Gold is no different, but it is also one of the least risky investments that there is. It is an asset that will always be in demand, either for its uses in Jewelry, or electronics, and it is also in demand from central banks as well as investors.
Gold is also a resource that has an uncertain, but scarce, supply. This supply is also always dwindling which means the demand will keep rising along with the price. More so, the factors that impact the future golds price prediction are only going to get more relevant with the Covid-19 crisis and the ongoing need for a safe haven asset.
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Golds Behavior Will Depend On Which Factors Tip The Scale
World Gold Council believes that gold will face two key headwinds during the second half of 2022:
- higher nominal interest rates
- a potentially stronger dollar.
However, the negative effect from these two drivers may be offset by other, more supportive factors, including:
- high, persistent inflation with gold playing catch-up to other commodities
- the need for effective hedges that overcome potentially higher correlations between equities and bonds.
In this context, golds both strategic and tactical role will likely remain relevant to investors, particularly while uncertainty stays elevated.
How do analysts see the price of Gold moving in the coming months? Below, we look at some of the latest gold price predictions and gold price forecasts for 2022, 2023, and beyond.
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London Bullion Market Association Predicts Gold Price Of Us$ 1843 By September 2013
At the annual conference of the London Bullion Market Association participants estimated the gold price to reach US$ 1,843 by September 2013. This price would equal a rise of about 6.7% from current levels. As drivers for this rise of the gold price increased demand from Asia and especially China as well as further monetary easing in the United States were cited.
More than half of the conference participants expect another round of quantitative easing in the U.S. and 56% forecast Chinas economy will grow by 7-8% next year.
Bnp Paribas Cuts 2013 Gold Price Forecast But Still Expects Gold Price To Rise
The global bank lowered its gold price forecast for 2012 by US$10 to $1,675 and its 2013 outlook by US$35 to US$1,865 per ounce, saying the impact of the latest round of quantitative easing by the U.S. Federal Reserve has not been felt so far.
In 2013, gold could break its previous record high, but the potential for further upside may be limited thereafter, analyst Anne-Laure Tremblay said in a note. According to the analyst, the timing of the gold price peak will be closely linked to the rate of improvement in the G3 economies.
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Dutch Bank Abn Amro Sees Higher Gold Prices In 2017 And 2018
According to the online business community BNamercias, ABN Amro raised its gold price forecasts. The bank now expects a gold price of USD 1,300 for the end of 2017 and a price of USD 1,400 by end of 2018.
BNamericas quotes ABN Amros Georgette Boele with It is likely that in Q3 the gold price outlook will turn positive and we expect US real yields start to edge lower and the US dollar starts to decline versus a number of currencies such as the Japanese yen despite several expected rate increases by the Federal Reserve.