Gold steadied around $1,740 an ounce on Friday, close to its lowest level since August 11th and book its third straight weekly loss hit by a series of hawkish signals from major central banks. The Federal Reserve confirmed tapering could begin as soon as November and interest rate hikes could follow earlier than expected. Elsewhere, Norway's Norges Bank became the first major western central bank to raise rates and the Bank of England noted that the case for modest tightening strengthened. Aside from the monetary policy headlines, investors continue to monitor China's Evergrande debt crisis as the interest deadline expired without any announcement from the company.

Historically, Gold reached an all time high of 2074.88 in August of 2020. Gold - data, forecasts, historical chart - was last updated on September of 2021.

Gold is expected to trade at 1732.59 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 1668.90 in 12 months time.

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Price Day Month Year
Gold 1,750.23 7.66 0.44% -2.26% -5.90%
Silver 22.41 -0.079 -0.35% -6.09% -1.98%
Copper 4.28 0.0525 1.24% 0.37% 44.01%
Steel 5,811.00 -47.00 -0.80% 12.64% 60.35%
Iron Ore 109.00 2.00 1.87% -26.35% -6.84%
Lithium 165,000.00 3,000.00 1.85% 48.65% 323.08%
Platinum 978.98 -9.92 -1.00% -1.75% 15.58%

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.