2020/12/04 - Gold Price Today

Actual Gold Price equal to 1845.60 Dollars per 1 troy ounce. Today's range: 1841.10-1848.30. Previous day close: 1841.10, —Āhanged by +4.50, +0.24%. Gold price per 1 gram here.

Gold Price forecast for tomorrow, this week and month

Gold Price Forecast By Day

Date Weekday Low High Price
12/07 Monday 1760 1946 1853
12/08 Tuesday 1773 1959 1866
12/09 Wednesday 1811 2001 1906
12/10 Thursday 1803 1993 1898
12/11 Friday 1777 1965 1871
12/14 Monday 1782 1970 1876
12/15 Tuesday 1785 1973 1879
12/16 Wednesday 1755 1939 1847
12/17 Thursday 1718 1898 1808
12/18 Friday 1723 1905 1814
12/21 Monday 1718 1898 1808
12/22 Tuesday 1702 1882 1792
12/23 Wednesday 1702 1882 1792
12/24 Thursday 1702 1882 1792
12/25 Friday 1711 1891 1801
12/28 Monday 1728 1910 1819
12/29 Tuesday 1718 1898 1808
12/30 Wednesday 1723 1905 1814
12/31 Thursday 1647 1821 1734
01/01 Friday 1650 1824 1737
01/04 Monday 1689 1867 1778
01/05 Tuesday 1686 1864 1775
01/06 Wednesday 1696 1874 1785
01/07 Thursday 1713 1893 1803



Gold Price forecast on Monday, December, 7: price 1853 Dollars, high 1946, low 1760. Gold Price forecast on Tuesday, December, 8: price 1866 Dollars, high 1959, low 1773. Gold Price forecast on Wednesday, December, 9: price 1906 Dollars, high 2001, low 1811. Gold Price forecast on Thursday, December, 10: price 1898 Dollars, high 1993, low 1803.

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Gold Price Forecast For 2020, 2021-2024.

Silver Price Forecast For Tomorrow, Week, Month.

Gold Price Per Gram Today

Actual Gold Price equal to 59.34 Dollars per 1 gram. Today's range: 59.19-59.42. Previous day close: 59.19, changed by +0.15, +0.25%.

Gold Price per gram forecast for tomorrow, this week and month

Gold Price Forecast By Day

Date Weekday Low High Price
12/07 Monday 56.60 62.56 59.58
12/08 Tuesday 57.01 63.01 60.01
12/09 Wednesday 58.24 64.38 61.31
12/10 Thursday 58.00 64.10 61.05
12/11 Friday 57.18 63.20 60.19
12/14 Monday 57.33 63.37 60.35
12/15 Tuesday 57.41 63.45 60.43
12/16 Wednesday 56.44 62.38 59.41
12/17 Thursday 55.26 61.08 58.17
12/18 Friday 55.43 61.27 58.35
12/21 Monday 55.26 61.08 58.17
12/22 Tuesday 54.77 60.53 57.65
12/23 Wednesday 54.77 60.53 57.65
12/24 Thursday 54.76 60.52 57.64
12/25 Friday 55.04 60.84 57.94
12/28 Monday 55.59 61.45 58.52
12/29 Tuesday 55.26 61.08 58.17
12/30 Wednesday 55.44 61.28 58.36
12/31 Thursday 53.01 58.59 55.80
01/01 Friday 53.10 58.68 55.89
01/04 Monday 54.34 60.06 57.20
01/05 Tuesday 54.25 59.97 57.11
01/06 Wednesday 54.57 60.31 57.44
01/07 Thursday 55.11 60.91 58.01



Gold Price forecast on Monday, December, 7: price 59.58 Dollars, high 62.56, low 56.60. Gold Price forecast on Tuesday, December, 8: price 60.01 Dollars, high 63.01, low 57.01. Gold Price forecast on Wednesday, December, 9: price 61.31 Dollars, high 64.38, low 58.24. Gold Price forecast on Thursday, December, 10: price 61.05 Dollars, high 64.10, low 58.00.

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Gold Price Change History

Gold has been used as the currency of choice throughout history, with the earliest known use being during 600 B.C. in Lydia (Present-day Turkey).

Fast forward to 1848, gold was identified at Sutter's Ranch, and this inspired the famous Gold Rush to California. A few years later in 1861, Salmon Chase, the U.S. Treasury Secretary at the time produced the original U.S. paper currency backed by gold.

And this was the start of the gold standard, which later came to an end in 1933.

What Makes Gold Prices to Fluctuate?

Gold prices show the real state of a country's economic health. When the prices for gold go up, it signals an unhealthy economy. This is because investors tend to buy more gold, to protect their wealth from an economic crisis or inflation. And as demand increases, so does the price. On the other hand, when the prices are low, the economy is in perfect health. This makes real estate, bonds, and stocks more profitable investments. Hence the demand for gold is low. The key takeaways are that gold prices reflect the thoughts and beliefs of commodity traders. For example, if the general perception of the economy is poor, they will buy more gold. If investors think that the economy is great, they buy less.

Gold Prices in the 21st Century

Gold found its prices rising on a financial market in 1979, when prices were topping out in dollars at 850 dollars per ounce in early 1980. Since then, the market went through a correction and prices have risen and dropped to date.

Let's take a look at how the prices have changed in the last 20 years.

Gold Prices Between 1999 - 2010

Anytime there is market uncertainty caused by geopolitical problems, gold prices rally. This explains why the gold prices skyrocketed in the first decade of the 21 century.

Between 1980 (the first colossal spike in prices) and 2000, gold prices fell but not at a steep rate.

In 2000, before the dot com excitement started, gold was trading for just $272.65 per ounce. However, from 2001, the country experienced an economic recession accompanied by the fateful 9/11 attacks. And as all investors do in the time of crisis, everyone started buying up gold.

Although this rise can be attributed to the panic that the economy was crashing, the prices of gold still increased at a steep rate even after the stock market started a new rally.

In 2007-2008, there was a severe worldwide economic crisis known as the global financial crisis (GFC). This economic crisis also contributed to a spike in the prices of gold. The yearly average was $ 871 per ounce in 2008. The financial crash of 2008 added to the demand, and over the next four years, prices were at an all-time high.

This year the price reached a high of over $ 1000 per ounce since the gold trade began.

The following year gold reached an all-time high with an average yearly price of $ 1,134 plus a high of $ 1,212 per ounce. But that was not the end.

Gold prices continued to increase. And in 2010 there was an all-time high price again of $ 1431 at the close of the year.

Gold Prices Between 2011 - 2020

By August 2011, a few years into the Great Recession, uneasy investors propelled the price of gold to an all-time high (to date) of $ 1,917 per ounce before pulling back to about $ 1,880.

These high prices were as a result of debt issues with the U.S. and Europe, which turned investors to buying gold.

However, fast forward two years later, golds most profound price fall happened between October of 2012 and July of 2013. The metal lost around a third of its initial value.

Experts attributed this sudden fall into the strengthening of the U.S. dollar in those two years.

Money works inverse to commodities. When the dollar strengthens against major currencies, the prices of commodities such as gold, drop.

This is because many foreign buyers purchase gold using dollars. So, when the dollar is weak, they have more buying power. Hence the demand for gold increases.

The price continued to fall to a low of $ 1060 per ounce in January 2016 before making a rebound in 2018.

The U.S. major market indexes almost experienced a bear market on December 24, 2018. By April of 2018, the price was around $ 1657 per ounce. In 2018, the dollar's currency also strengthened against its peers and rose from 120 to 128. On the other hand, dollar-denominated assets were more attractive to investors, so they shifted their money to the U.S.

Considering all these unfavorable macroeconomic factors, the performance of gold this year was reasonable.

The price experienced minor changes up until February of 2020. Due to the fears of the growing pandemic and the effects on the economy, investors turned to gold as a safe haven.

In March 2020, global stocks plunged into an abrupt bear market in the wake of the coronavirus pandemic.

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