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.
Gold Price Forecast Values by Month
London Fix. US Dollars per troy ounce. Average of Month.
| Month | Date | Forecast Value | Avg Error |
|---|---|---|---|
| 0 | Aug 2023 | 1920.68 | ±0.00 |
| 1 | Sep 2023 | 1943 | ±18 |
| 2 | Oct 2023 | 1988 | ±21 |
| 3 | Nov 2023 | 2001 | ±22 |
| 4 | Dec 2023 | 1991 | ±24 |
| 5 | Jan 2024 | 1946 | ±24 |
| 6 | Feb 2024 | 1984 | ±25 |
| 7 | Mar 2024 | 2026 | ±26 |
| 8 | Apr 2024 | 1965 | ±26 |
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.
| September 22, 2023 | |
| Indicator | Value |
|---|---|
| S&P 500 | 4320.06 |
| U.S. GDP Growth, YoY % | 2.47 |
| U.S. Inflation Rate, % | 3.67 |
| Gold Price, $/oz-t | 1927.35 |
| Crude Oil Futures, $/bbl | 90.33 |
| U.S. 10 Year Treasury, % | 4.44 |