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Gold in 2016 there was a noticeable rise but at the end of the year it decreased due to political tensions.
By the end of 2017, gold had climbed back to around $1,300 per ounce. Spurring the last push of the year was the success of the euro in reaching the $1.20 mark, a level that the European currency has flirted with throughout much of the year.
When looking at the performance of major markets such as US equities and oil, 2018 has so far provided much for bulls to cheer. But one market that has clearly underperformed year-to-date is gold. By August, gold prices had dropped to a 20-month low before they staged a slight recovery towards the end of the month. Having lost around 8 percent in 2018, and around 14 percent on an annualized basis, gold also fell below the $1,200-per-ounce mark for the first time since 2017’s first quarter.
Following some weakness earlier in the year, precious metals prices picked up recently on rising expectations of an interest rate cut by the U.S. Federal Reserve and an escalation in trade tensions between the United States and China. The World Bank’s Precious Metals Price Index is projected to be 2.6 percent higher in 2019, led by gold, according to the latest Commodity Markets Outlook.
Gold is again riding high on the world's commodity markets, topping $2,000 per troy ounce for the first time on Tuesday and entering its third week of trading at above the benchmark level of $1,900 – its longest run at this point since 2011. Overall, gold has risen in value by a fifth so far this year.
The impact of COVID-19 on the world's markets has weakened the value of the dollar. This, along with ongoing geopolitical tensions in the Middle East and parts of Asia, helps explain its current winning streak, according to analysts.
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***
Gold in 2016 there was a noticeable rise but at the end of the year it decreased due to political tensions.
By the end of 2017, gold had climbed back to around $1,300 per ounce. Spurring the last push of the year was the success of the euro in reaching the $1.20 mark, a level that the European currency has flirted with throughout much of the year.
When looking at the performance of major markets such as US equities and oil, 2018 has so far provided much for bulls to cheer. But one market that has clearly underperformed year-to-date is gold. By August, gold prices had dropped to a 20-month low before they staged a slight recovery towards the end of the month. Having lost around 8 percent in 2018, and around 14 percent on an annualized basis, gold also fell below the $1,200-per-ounce mark for the first time since 2017’s first quarter.
Following some weakness earlier in the year, precious metals prices picked up recently on rising expectations of an interest rate cut by the U.S. Federal Reserve and an escalation in trade tensions between the United States and China. The World Bank’s Precious Metals Price Index is projected to be 2.6 percent higher in 2019, led by gold, according to the latest Commodity Markets Outlook.
Gold is again riding high on the world's commodity markets, topping $2,000 per troy ounce for the first time on Tuesday and entering its third week of trading at above the benchmark level of $1,900 – its longest run at this point since 2011. Overall, gold has risen in value by a fifth so far this year.
The impact of COVID-19 on the world's markets has weakened the value of the dollar. This, along with ongoing geopolitical tensions in the Middle East and parts of Asia, helps explain its current winning streak, according to analysts.
