Gold Price Forecast today

Image Credit: Google  Image Credit: Google 

Gold prices have been in a bit of a holding pattern recently, consolidating below the key $1,700 level. 

Image Credit: Google 

This comes after prices surged to multi-year highs above $1,900 back in August on the back of safe-haven demand amid market uncertainty surrounding the Covid-19 pandemic.

Image Credit: Google 

However, prices have failed to sustain the momentum and have been on a gradual decline since then. 

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This has coincided with a strengthening in the US dollar as well as increasing investor risk appetite, which has seen money flow into riskier assets such as equities.

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Looking ahead, gold prices are likely to remain under pressure in the near-term as the dollar remains supported and risk appetite continues to improve. 

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However, longer-term factors such as ongoing central bank stimulus and worries over the long-term economic impact of Covid-19 are likely to keep prices well supported.

Image Credit: Google 

As such, we continue to see gold prices averaging around $1,850 in 2021.

Image Credit: Google 

Gold Price Forecast: Prices to Remain Under Pressure in the Near-Term

Image Credit: Google 
Image Credit: Google 

Gold prices have been in a bit of a holding pattern recently, consolidating below the key $1,700 level. 

Image Credit: Google 

This comes after prices surged to multi-year highs above $1,900 back in August on the back of safe-haven demand amid market uncertainty surrounding the Covid-19 pandemic.

Image Credit: Google 

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