Knoema.com - Gold http://knoema.de 2023-07-11T06:46:05Z /favicon.png Knoema ist ihre persönliche Wissensdatenbank Gold Price Forecast: 2022-2024 //knoema.de/ryjroog/gold-price-forecast-2022-2024 2023-07-11T06:46:05Z Misha Gusev knoema.de://knoema.de/user/1000560
Gold Price Forecast: 2022-2024

(October 2022) During 2021, the gold price increased from $1,770 to $1,800, marking 1.7% growth year-over-year. In October 2022, gold prices averaged $1,664/oz, 7 percent down compared to December 2021. The World Bank predicts the price of gold to decrease to $1,700/oz in 2023 from an average of $1,775/oz in 2022. In 2024, the gold price is expected to decrease to $1,650/oz. In 2020-2021 the high level of uncertainty in the global economy due to the coronavirus outbreak fuelled demand for gold across the board. However, optimists hoping vaccinations would lead to an economic recovery were disappointed as inflation grew alongside uncertainty amplified by the war in Ukraine. All of these large-scale events increase both volatility and uncertainty in the markets, putting downward pressure on gold prices.     Price forecasts of other critical commodities:  silver | copper | aluminum | nickel | zinc | coal | natural gas | crude oil

Misha Gusev knoema.de://knoema.de/user/1000560
Gold Price Spurred by Low Interest Rates and COVID-19 //knoema.de/ixuqiic/gold-price-spurred-by-low-interest-rates-and-covid-19 2022-12-15T06:45:20Z Nematullah Khan knoema.de://knoema.de/user/1975840
Gold Price Spurred by Low Interest Rates and COVID-19

(16 August 2020) Gold—the traditional safe haven of investors—has experienced a steady price increase over the past few months amid expectations of deeper recession in the world economy coupled with falling interest yielding asset classes, a weaker US dollar, and slowing real estate markets. Gold prices increased 38 percent YoY to above $2,050 per ounce in early August amid concerns about a resurgence of COVID-19 and deeper recession predicted by the IMF in its June World Economic Outlook. The IMF’s Outlook indicates that the global economy is likely to shrink by 4.94 percent, advanced economies by 8 percent, and emerging markets by 3 percent in 2020. Aggressive policy rate cuts by Central Banks in response to the global economic deterioration have forced long term interest rates to historically low levels, including yields on 10-year bonds.Though equity markets around the world have rebounded from their March lows, the low interest rate environment and uncertainties around COVID-19 have boosted gold prices as investors turn to gold as a hedge against low returns on interest bearing assets. Gold ETFs flows increased by 21 percent in first half of 2020, according World Gold Council. Moreover, production of gold fell 6 percent to 2,192 tonnes as mine production and recycling were reduced by COVID-19 induced lockdowns.

Nematullah Khan knoema.de://knoema.de/user/1975840
Gold Price Forecast: Long Period 2018 to 2023 | Data and Charts //knoema.de/ysngzmc/gold-price-forecast-long-period-2018-to-2023-data-and-charts 2022-10-27T06:28:23Z Anil Kumar TN knoema.de://knoema.de/user/1563900
Gold Price Forecast: Long Period 2018 to 2023 | Data and Charts

Anil Kumar TN knoema.de://knoema.de/user/1563900
Major Fiat Currencies Can't Compete With Gold //knoema.de/jrbpvod/major-fiat-currencies-can-t-compete-with-gold 2021-08-04T10:34:12Z Misha Gusev knoema.de://knoema.de/user/1000560
Major Fiat Currencies Can't Compete With Gold

(13 July 2021) In 1971, to prevent inflation-induced outflow of gold from the country, US President Richard Nixon ended the convertibility of US dollars to gold at a fixed exchange rate.This decision, which was followed by similar measures in other countries, ended the post-World War II period during which the value of national currencies remained unchanged relative to the value of gold. The decades of post-Gold Standard history show that none of major fiat currencies have been able to maintain their purchasing power against gold in the long run.The major currencies lost from 78% (Swiss franc, Japanese yen) to 98% (Indian rupee, Indonesian rupiah) of their value relative to gold between 1979 and 2021. Limited supply of gold, and the further constraint of the slow growth of gold mine production, protect gold from inflation, as opposed to the often emission-based increase in the paper money supply.In recession and recovery periods, gold outperforms not only individual currencies but also other asset prices. For example, during the great recession and recovery (a period between Q1 2008 and Q1 2010 which saw the decline and recovery of global GDP), the price of gold increased 35% compared to its pre-crisis level in Q4 2007. Prices for other assets — stocks, homes, and commodities — declined by 29%, 12% and 7% respectively.  The same pattern has repeated during the COVID crisis: by Q1 2021* gold gained 26% compared to Q4 2019, outperforming other assets. *the most recent period for which data is available for all asset categories. Global GDP is expected to recover to Q4 2019 level in Q2-Q3 2021. Note: Aggregate asset prices shown below are the GDP weighted averages of asset benchmark indices for UK, Germany, France, Japan, and the US. Asset price indices for individual countries other than the US were converted to equivalent US dollars for the purpose of comparison.

Misha Gusev knoema.de://knoema.de/user/1000560
Knoema | Gold Standard 2.0 Readiness Index //knoema.de/dfspmhf/knoema-gold-standard-2-0-readiness-index 2020-10-23T13:41:54Z Misha Gusev knoema.de://knoema.de/user/1000560
Knoema | Gold Standard 2.0 Readiness Index

(9 October 2020) During periods of high volatility (hello, coronavirus!) governments, investors, businesses, and households alike typically seek out safe assets to protect their savings. In the absence of a magical currency impervious to the volatility of recessions, the search for stability usual returns to none other than the modern day gold standard. For governments, especially in the period since the Great Recession, this translates into more aggressive and intentional accumulation of gold within their international reserves. Setting aside the economic implications of a new gold standard, we sought to estimate countries' 'readiness' to convert currency in circulation into physical gold, which is the fundamental principle of a gold standard, by creating a Gold Standard 2.0 Readiness Index. The Index for mid 2020 shows that among the world's largest economies only Russia is more or less ready to fully implement a gold standard, needing to reduce the amount of currency in circulation by just 10% to be able to convert all of its currency in circulation into physical gold.Implementation of gold standard in the Eurozone would require reducing currency in circulation by more than double, while China, India, and the United States would need a 9-fold decrease in currency in circulation.Among the largest economies, Australia is an outlier and least prepared to convert to a gold standard. Australia's currency in circulation is more than 35 times the value of its official gold holdings.

Misha Gusev knoema.de://knoema.de/user/1000560
Gold Futures Suffer as Russia Approves COVID-19 Vaccine //knoema.de/geaorag/gold-futures-suffer-as-russia-approves-covid-19-vaccine 2020-08-26T04:25:53Z Nematullah Khan knoema.de://knoema.de/user/1975840
Gold Futures Suffer as Russia Approves COVID-19 Vaccine

(25 August 2020) The relentless rally in gold prices finally come to halt as Russia announced on 11 August the launch of the world's first COVID-19 vaccine and created space for hope that an accelerated economic recovery could be on the horizon. Despite skepticism that seems to be prevailing among the health experts around the world (given that the rush to bring a market vaccine precluded the typical full cycle of trials), the news had a bearish affect on gold futures, pushing prices as low as $1,946 per ounce on 11 August from $2,039 per ounce one day earlier. Gold futures have been volatile since, oscillating more or less within the 10-11 August price band during the two-week period since the announcement.But, sanctuary in gold has given way to strengthening US Treasury yields, with both 5-year and 10-year yields trending upward since the vaccine announcement.

Nematullah Khan knoema.de://knoema.de/user/1975840
Investment Rewards: Gold versus Platinum //knoema.de/cjotyic/investment-rewards-gold-versus-platinum 2019-08-09T05:05:51Z Balaji S knoema.de://knoema.de/user/1000220
Investment Rewards: Gold versus Platinum

Balaji S knoema.de://knoema.de/user/1000220
Gold Price History //knoema.de/wtbwxfg/gold-price-history 2019-08-09T05:05:02Z Alex Kulikov knoema.de://knoema.de/user/1847910
Gold Price History

The price of gold is determined worldwide on the basis of the London Gold fixing price. The price is set per troy ounce of pure gold in the form of standardized bullions. Then, using this price as a reference, producers, dealers and other market participants set prices for jewelry, coins and other goods made of or with gold.   On this interactive dashboard you can explore more than 30 years of monthly gold price history and yearly price returns quoted in 19 various currencies of the primary gold-producing and gold-consuming countries. Please note that local currency prices computed from the US Dollar price and the market exchange rates.

Alex Kulikov knoema.de://knoema.de/user/1847910
Historical Gold Price Trend in India //knoema.de/aqlqsqc/historical-gold-price-trend-in-india 2018-10-05T12:44:08Z Nematullah Khan knoema.de://knoema.de/user/1975840
Historical Gold Price Trend in India

Nematullah Khan knoema.de://knoema.de/user/1975840
Botswana Diamond & Gold Exports Trends //knoema.de/qwsodde/botswana-diamond-gold-exports-trends 2018-07-04T08:00:21Z Balaji S knoema.de://knoema.de/user/1000220
Botswana Diamond & Gold Exports Trends

Balaji S knoema.de://knoema.de/user/1000220
European Countries Wealth //knoema.de/djcmpcd/european-countries-wealth 2012-09-19T10:58:41Z Balaji S knoema.de://knoema.de/user/1000220
European Countries Wealth

On Gold Reserves, Germany has 31 Metric ton of Gold, 38% more than Italy/France. Italy/France Gold Reserves are as much close to Rest of European Countries (Excluding Germany). France Gold Reserves were depleted by 20% during the period of 2004 to 2009. On Foreign Exchange Reserves, Poland has the highest Foreign Exchange Reserves of 68 bilion euros. Germany's Reserve is less than 50% of Polland.

Balaji S knoema.de://knoema.de/user/1000220