Gold - Price - Chart - Historical Data (2024)

Gold rose past $2,330 per ounce on Friday, as investors continued assessing the Federal Reserve’s monetary policy direction following mixed results from recent economic data. The US GDP growth for the first quarter missed expectations and was the most sluggish expansion in nearly two years. However, the acceleration in consumer inflation reinforced speculations that the Fed will hold its restrictive monetary policy for longer. Higher rates decrease the appeal for gold, yet increasing price pressures boost its attractiveness as a hedge against inflation. Investors’ focus are now into March PCE figures for clearer cues on Fed’s monetary policy outlook. Over the week, the bullion is poised for a 2.5% decline, the first drop in five weeks.

Gold increased 271.49 USD/t oz. or 13.16% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 2431.55 in April of 2024. Gold - data, forecasts, historical chart - was last updated on April 26 of 2024.

Gold increased 271.49 USD/t oz. or 13.16% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 2373.30 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2443.81 in 12 months time.

Gold

Gold is mostly traded on the OTC London market, the US futures market (COMEX) and the Shanghai Gold Exchange (SGE). The standard future contract is 100 troy ounces. Gold is an attractive investment during periods of political and economic uncertainty. Half of the gold consumption in the world is in jewelry, 40% in investments, and 10% in industry. The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE. The gold prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our gold prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.