GOLD PRICE FORECAST AND PREDICTION FOR TOMORROW, WEEK AND MONTH


2024/05/21. Gold Price Today.

Actual Gold price equal to 2428.60 Dollars per troy ounce or 78.08 Dollars per 1 gram. Today's price range: 2408.50 - 2438.20. The previous day close: $2438.50, the change was -9.90, -0.41%.

Gold Price Converter

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Gold Price Prediction For Tomorrow, This Week And Month.

Gold Price Forecast By Day

Date Weekday Min Max Price
05/22 Wednesday 2315 2559 2437
05/23 Thursday 2353 2601 2477
05/24 Friday 2343 2589 2466
05/27 Monday 2371 2621 2496
05/28 Tuesday 2393 2645 2519
05/29 Wednesday 2368 2618 2493
05/30 Thursday 2383 2633 2508
05/31 Friday 2421 2675 2548
06/03 Monday 2414 2668 2541
06/04 Tuesday 2404 2657 2530
06/05 Wednesday 2427 2683 2555
06/06 Thursday 2423 2679 2551
06/07 Friday 2406 2660 2533
06/10 Monday 2441 2697 2569
06/11 Tuesday 2388 2640 2514
06/12 Wednesday 2386 2638 2512
06/13 Thursday 2391 2643 2517
06/14 Friday 2407 2661 2534
06/17 Monday 2401 2653 2527
06/18 Tuesday 2395 2647 2521
06/19 Wednesday 2329 2575 2452
06/20 Thursday 2342 2588 2465
06/21 Friday 2359 2607 2483
06/24 Monday 2336 2582 2459

Gold price forecast on Wednesday, May, 22: 2437 Dollars, maximum 2559, minimum 2315. Gold price prediction on Thursday, May, 23: 2477 Dollars, maximum 2601, minimum 2353. Gold price forecast on Friday, May, 24: 2466 Dollars, maximum 2589, minimum 2343. Gold price prediction on Monday, May, 27: 2496 Dollars, maximum 2621, minimum 2371.

In 1 week Gold price forecast on Tuesday, May, 28: 2519 Dollars, maximum 2645, minimum 2393. Gold price prediction on Wednesday, May, 29: 2493 Dollars, maximum 2618, minimum 2368. Gold price forecast on Thursday, May, 30: 2508 Dollars, maximum 2633, minimum 2383. Gold price prediction on Friday, May, 31: 2548 Dollars, maximum 2675, minimum 2421. Gold price forecast on Monday, June, 3: 2541 Dollars, maximum 2668, minimum 2414.

GOLD PRICE FORECAST 2024, 2025 - 2028.

Silver Price Forecast Tomorrow & Week.

In 2 weeks Gold price prediction on Tuesday, June, 4: 2530 Dollars, maximum 2657, minimum 2404. Gold price forecast on Wednesday, June, 5: 2555 Dollars, maximum 2683, minimum 2427. Gold price prediction on Thursday, June, 6: 2551 Dollars, maximum 2679, minimum 2423. Gold price forecast on Friday, June, 7: 2533 Dollars, maximum 2660, minimum 2406. Gold price prediction on Monday, June, 10: 2569 Dollars, maximum 2697, minimum 2441.

In 3 weeks Gold price forecast on Tuesday, June, 11: 2514 Dollars, maximum 2640, minimum 2388. Gold price prediction on Wednesday, June, 12: 2512 Dollars, maximum 2638, minimum 2386. Gold price forecast on Thursday, June, 13: 2517 Dollars, maximum 2643, minimum 2391. Gold price prediction on Friday, June, 14: 2534 Dollars, maximum 2661, minimum 2407. Gold price forecast on Monday, June, 17: 2527 Dollars, maximum 2653, minimum 2401.

In 4 weeks Gold price prediction on Tuesday, June, 18: 2521 Dollars, maximum 2647, minimum 2395. Gold price forecast on Wednesday, June, 19: 2452 Dollars, maximum 2575, minimum 2329. Gold price prediction on Thursday, June, 20: 2465 Dollars, maximum 2588, minimum 2342.

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.

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