Gold prices remained under pressure at around $1850 an ounce on Wednesday, not far from 3-1/2-month lows reached early in the month, as investors weighed prospects of faster monetary policy tightening around the world against high inflation and recession fears. The Federal Reserve is expected to continuing an aggressive set of moves aiming to tackle soaring prices and traders are pricing in 50bps of rate hikes in June and July. Meanwhile, the ECB is also seen raising rates to positive territory by the end of the third quarter.

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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Gold



Price Day Month Year
Gold 1,853.34 -12.56 -0.67% -2.74% -2.27%
Silver 21.99 -0.106 -0.48% -6.39% -20.60%
Copper 4.28 -0.0485 -1.12% -3.61% -5.61%
Steel 4,633.00 -40.00 -0.86% -7.65% -2.01%
Iron Ore 130.00 -2.00 -1.52% -4.76% -31.94%
Lithium 457,500.00 0 0% -2.97% 414.04%
Platinum 948.48 -5.78 -0.61% 2.98% -20.38%


Gold
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
1853.34 1865.90 2074.88 34.83 1968 - 2022 USD/t oz. Daily