Gold prices forecast for 2016-2017
What is the gold market current state of affairs?
Gold prices evolved around 1,345 $ per ounce during last month, having reached the peak of 1,372 $ at the beginning of it. During August, gold prices showed positive values in general terms. However, at the end of the month, a slight descent was observed, associated with the strengthening of the US dollar and Janet Yellen's, head of the US Federal Reserve, statement related to a possible interest rate increment in December 2016.
What to expect during the fourth quarter of 2016?
As reported by the Economy Forecast Agency ‘Apecon’, the average price per ounce of gold will vary around 1,330 $ during September and October. In November though, gold prices are predicted to evolve around 1395 $ and probably to reach a maximum of 1,553 $ per ounce. During the last month of the year, gold prices might show another slight descent due to the Fed’s decision as for the rates; but the average price is not expected to fall below 1,359 $.
What are the forecasts for 2017?
At the beginning of 2017, gold prices per ounce are expected to reach about 1,410-1,450 $, but the average price during April and May might amount to 1,530-1,540 $ per ounce. Moreover, as the year progresses, gold is expected to reach a new peak of 1,700 $! A timid lowering of gold prices will be noticed during summer though, but no significant impact is predicted since the average gold price will not be lower than 1,490 $. As for the autumn, this precious metal is supposed to increase in value again, climbing up to 1,515 $ per ounce.
Storing gold is always advantageous
Gold is a safe-haven asset and the forecasts for its growth keep on being promising. Gold serves to protect your capital if stored and many benefits can be obtained if considering the development of your own business with this precious metal.
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