There are several factors that some people think could push the price of gold to break the $1,900 per ounce barrier in 2018. First, the sharp rise in gold prices since the beginning of this year, supported in part by the decline in the US dollar. Then, we have the high expectations of growth in US stock markets, and rising inflation rates. All these factors might lead gold to reach record levels. Even though reaching the $2,000 mark might be a long term goal, it\u2019s definitely not impossible or improbable.<\/p>\n
On Wednesday, the prices of gold futures contracts reached $1.339 per ounce. Gold is expected to rise to $1.400 very soon, which has not been recorded since 2013. Experts in the gold markets say that if gold manages to rise above $1.400 an ounce, we are going to see massive moves, much like the ones that occurred in the cryptocurrency markets. The price could double from $1,400 to $2.800 an ounce in 2018 alone, especially with reports claiming that China intends to stop buying bonds and USD.The greenback is close to recording a 3-year low.<\/p>\n
The difference between the growth recorded by gold and the one recorded by bitcoin is that gold is characterized by stability and sustainability, because of the supply and demand process. Bitcoin, on the other hand, is mainly based on speculation and trading.<\/p>\n
The World Gold Council has identified some factors that may affect gold performance this year, including global economic growth, especially in China, which is the largest gold market in the world. The Board also noted that gold demand data for the first quarter will not be released until April. The markets are waiting for the outcome of the Lunar New Year on February 16 in China, when gold prices are expected to rise. The first three quarters of last year saw an upward trend especially as demand for gold coins and ounces increased in China.<\/p>\n
Some believe that the price of gold could jump to $1.420 by the middle of this year, and settle at $1.400 towards its end. They assume this would happen if US interest rates were raised twice this year, meaning a correction and an increase in the US dollar index and Treasury yields. Another outcome could be that gold prices might fall to $1.110 an ounce by the end of the year, if the Fed were to rise interest rates 4 times this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
There are several factors that some people think could push the price of gold to break the $1,900 per ounce barrier in 2018. First, the sharp rise in gold prices since the beginning of this […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[62,4],"tags":[53,78,56,55,54,76],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/314"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=314"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/314\/revisions"}],"predecessor-version":[{"id":316,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/314\/revisions\/316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/315"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}