Gold prices firmed above the key $1,830 an ounce level on Tuesday, consolidating the rebound from a two-month low of $1,784 an ounce as the dollar eased. The bullion has been under pressure amid expectations of a robust economic recovery fuelled by the vaccines’ rollout and more government spending. While a pick-up in risk appetite may dent gold’s appeal, the threats posed by record-high debt levels should drive prices higher in the long-run.
Historically, Gold reached an all time high of 2074.88 in August of 2020. Gold - data, forecasts, historical chart - was last updated on February of 2021.
Gold is expected to trade at 1804.95 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 1703.94 in 12 months time.