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Video: Gold price forecast in 2022
2024 Author: James Gerald | [email protected]. Last modified: 2024-01-18 00:05
Last year, the price of gold reached an all-time high due to the global crisis. Since the beginning of 2021, the price has gone down. The forecast for gold prices in 2022 suggests only a slight increase in the value of the precious metal.
Gold price history
In 1900, an ounce of gold was valued for the first time in the United States. Initially, people settled in gold bars or nuggets, while there was no paper money. For a certain mass of gold, you could buy any product. Until paper notes appeared, there was no nominal value for gold.
But a precious metal of a small mass must have an appropriate price. The value of the troy ounce was given a value expressed in paper money, or rather, in dollars. As soon as paper money appeared, gold immediately acquired its value. An ounce was priced at $ 20.67.
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This is how the gold standard was adopted. The set price was neither high nor low. It shouldn't have changed for the next 30 years. The purchasing power of an ounce has changed, because the prices of products and services have always increased.
40% of the total mass of issued dollars was to be backed by gold. And this gave confidence that the amount of paper money, the same dollars, would not grow indefinitely. At present, the amount of paper money is so great that the price of gold is drowning in endless flows of paper.
Every year the price of an ounce of gold rises, but not as fast as paper units. The value of gold also has ups and downs. The stronger the global crisis, the more actively investors are investing in the gold reserve. As soon as the crisis subsides, gold is sold off, therefore, the value of an ounce falls.
Gold value
World experts believe that gold should cost 10 times more than it is now. The uncontrolled printing of money leads to hyperinflation. Now the mass of paper money is not backed by gold reserves. The real movement in the value of gold is just beginning.
If experts are asked whether gold prices will rise or fall in 2022, most respond that growth is expected. With the onset of the next world crisis, fiat currencies will collapse, hyperinflation and, accordingly, a rise in the price of gold.
The price of gold for today is $ 1812.5 per troy ounce. As of July 20, 2021, gold is trading in the region of $ 1809-1832.
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Troy ounce is 31.1 g.
The whole world has an insoluble debt problem. Perhaps there will be a solution if the price of gold settles in its real position and occupies a line of $ 20 thousand per ounce.
Gold price forecast in the table
The forecast for gold prices in 2022 can be summarized in statistical data. The price is in dollars.
Month | Start | Minimum-maximum | End | % per month | % Total |
January | 1759 | 1706-1759 | 1732 | -1, 50% | -2, 50% |
February | 1732 | 1732-1834 | 1807 | 4, 30% | 1, 70% |
March | 1807 | 1719-1807 | 1745 | -3, 40% | -1, 70% |
April | 1745 | 1694-1746 | 1720 | -1, 40% | -3, 20% |
May | 1720 | 1638-1720 | 1663 | -3.3% | -6, 40% |
June | 1663 | 1636-1686 | 1661 |
-0, 10% |
-6, 50% |
July | 1661 | 1661-1790 | 1764 | 6, 20% | -0, 70% |
August | 1764 | 1764-1834 | 1807 | 2, 40% | 1, 70% |
September | 1807 | 1807-1876 | 1848 | 2, 30% | 4, 10% |
October | 1848 | 1848-1992 | 1963 | 6, 20% | 10, 50% |
November | 1963 | 1937-1995 | 1966 | 0, 20% | 10, 70% |
December | 1966 | 1936-1994 | 1965 | -0, 10% | 10, 60% |
Expected price
Banks in Russia use the price set in world auctions to determine the current gold rate, converting it into rubles relative to the official value of the US dollar. In fact, the banking structure of the Russian Federation does not have a particular impact on the total cost, but the price of gold includes changes in the index rate set by the Central Bank.
Experts do not expect a drop in the price of gold. By the beginning of 2022, prices may recover to $ 1950 per ounce. The dynamics may be affected by the tightening of monetary policy. If retail demand for metal continues to recover, the price will also rise. The inflation rate in the world's largest economies will be of great importance for the decline or growth.
At the moment, the combination of external and internal factors is not contributing to a sharp rise in gold prices. The mid-term outlook will not give a return to the level of $ 2 thousand per ounce. The market does not yet have the potential to even break up the resistance level of $ 1850.
Outcomes
Gold price forecast for 2022 is based on historical data analysis. The price will not change dramatically unless another economic crisis occurs.
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