Gold spot prices fell 0.3% to $1885 per ounce on Friday, after three days of gains as the USD’s rebound offset support from hopes of a $900 billion fiscal stimulus package in the US. During the week, gold prices increased 2.5% and booked the third straight weekly gain. On Friday, both parties in Congress said they are close to an agreement that would provide $900 billion in aid, with Senate Majority Leader Mitch McConnell saying talks “remain productive”.
Historically, Gold reached an all time high of 2074.88 in August of 2020. Gold - data, forecasts, historical chart - was last updated on December of 2020.
Gold is expected to trade at 1845.30 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 1742.03 in 12 months time.