Gold prices firmed above the $1,860 level on Monday, as investors took shelter in the safe-haven metal amid surging coronavirus cases and a slower-than-expected COVID-19 vaccine rollout. Furthermore, a dispute between Wall Street hedge funds and retail investors drove investors away from riskier assets. Gold ended January almost 3% lower, its worst month in a decade amid a firm dollar and soaring US Treasury yields.
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 1830.23 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 1727.81 in 12 months time.