Gold 
“Gold Price Outlook
Gold prices reached a fresh record high of $2,454.20 on 20 May. Prices have come back down from those highs but remain at historically elevated levels. Gold prices are expected to move in a mostly sideways fashion, albeit with some volatility, with a downside bias over the next few months. Prices are projected to experience renewed strength during the last four months of this year, possibly reaching new highs.
Prices have been moving largely between $2,285 and $2,450 over the past two months. Prices are expected to remain within this range over the summer. In the absence of any fresh political or economic risks, gold prices are likely to struggle breaking out of this range to the upside until September or later. Economic conditions remain healthy at this time, which coupled with seasonal weakness in prices during the summer months could act as a headwind for prices.
While economic conditions are generally healthy at this time there are economic indicators from time to time which suggest signs of problems in the economy. This, coupled with a relatively higher interest rate environment and abundance of political risk, should be expected to prevent the price of gold from declining in any meaningful or sustainable fashion below the $2,285 level.
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
