GOLD PRICE FORECAST AND PREDICTION FOR TOMORROW, WEEK AND MONTH

2023/12/01. Gold Price Today.

Actual Gold price equal to 2095.00 Dollars per troy ounce or 67.36 Dollars per 1 gram. Today's price range: 2052.60 - 2095.50. The previous day close: $2057.20, the change was +37.80, +1.84%.

Gold Price Prediction For Tomorrow, This Week And Month.

Gold price forecast on Monday, December, 4: 2029 Dollars, maximum 2130, minimum 1928. Gold price prediction on Tuesday, December, 5: 2033 Dollars, maximum 2135, minimum 1931. Gold price forecast on Wednesday, December, 6: 2060 Dollars, maximum 2163, minimum 1957. Gold price prediction on Thursday, December, 7: 2072 Dollars, maximum 2176, minimum 1968.

In 1 week Gold price forecast on Friday, December, 8: 2082 Dollars, maximum 2186, minimum 1978. Gold price prediction on Monday, December, 11: 2084 Dollars, maximum 2188, minimum 1980. Gold price forecast on Tuesday, December, 12: 2075 Dollars, maximum 2179, minimum 1971. Gold price prediction on Wednesday, December, 13: 2096 Dollars, maximum 2201, minimum 1991. Gold price forecast on Thursday, December, 14: 2093 Dollars, maximum 2198, minimum 1988.

GOLD PRICE FORECAST 2023, 2024 - 2027.

Silver Price Forecast Tomorrow & Week.

In 2 weeks Gold price prediction on Friday, December, 15: 2092 Dollars, maximum 2197, minimum 1987. Gold price forecast on Monday, December, 18: 2115 Dollars, maximum 2221, minimum 2009. Gold price prediction on Tuesday, December, 19: 2111 Dollars, maximum 2217, minimum 2005. Gold price forecast on Wednesday, December, 20: 2129 Dollars, maximum 2235, minimum 2023. Gold price prediction on Thursday, December, 21: 2137 Dollars, maximum 2244, minimum 2030.

In 3 weeks Gold price forecast on Friday, December, 22: 2114 Dollars, maximum 2220, minimum 2008. Gold price prediction on Monday, December, 25: 2122 Dollars, maximum 2228, minimum 2016. Gold price forecast on Tuesday, December, 26: 2101 Dollars, maximum 2206, minimum 1996. Gold price prediction on Wednesday, December, 27: 2091 Dollars, maximum 2196, minimum 1986. Gold price forecast on Thursday, December, 28: 2075 Dollars, maximum 2179, minimum 1971.

In 4 weeks Gold price prediction on Friday, December, 29: 2082 Dollars, maximum 2186, minimum 1978. Gold price forecast on Monday, January, 1: 2084 Dollars, maximum 2188, minimum 1980. Gold price prediction on Tuesday, January, 2: 2083 Dollars, maximum 2187, minimum 1979.

The forecast is updated on daily basis. The price is updated every 15 minutes.

Current Exchange Rates and Prices.

BITCOIN PRICE PREDICTION.

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.