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Forecast of Gold Price

Below is a forecast of the price of gold broken down by month. This forecast is based on prior values of London Fix gold rates along with other factors such as currency exchange rates, interest rates and other commodity prices. Please see our methodology page for a better understanding of how this forecast is created.

Gold Price Prediction Trend Chart

London Gold Fix. US Dollars per troy ounce.

Chart of Gold Price Trend and Forecast

Gold Price Forecast Values by Month

London Fix. US Dollars per troy ounce. Average of Month.

Month Date Forecast Value Avg Error
0 May 2023 1990.77 ±0.00
1 Jun 2023 1966 ±18
2 Jul 2023 1921 ±21
3 Aug 2023 1736 ±22
4 Sep 2023 1789 ±24
5 Oct 2023 1822 ±24
6 Nov 2023 1887 ±25
7 Dec 2023 1914 ±26
8 Jan 2024 1946 ±26

Download Historical Data

Get the Rest of the Story with the 5 Year Forecast!

What Causes and Influences the Price Of Gold?

One of the primary causes of the price of gold in U.S. dollars is the strength of the U.S dollar versus other currencies. The EMU Euro (EUR), Japanese Yen (JPY) and the Swiss Franc (CHF) versus the US dollar are good indicators of where the price of gold is going. As the EUR, JPY and CHF strengthen versus the USD, the price of gold will go up.

The price of gold will also move up or down in the same direction as the price of silver.

Contrary to popular belief, an upset or fearful condition in the stock markets does not drive the price of gold up.

Other Gold Price Resources of Interest:

A long range forecast of Gold Prices and similar financial series is available by subscription.  Click here to learn more about FFC's gold price extended forecast.

Current Economic Indicators
June 06, 2023
Indicator Value
S&P 500 4283.85
U.S. GDP Growth, YoY % 1.62
U.S. Inflation Rate, % 4.93
Gold Price, $/oz-t 1963.33
Crude Oil Futures, $/bbl 71.74
U.S. 10 Year Treasury, % 3.70