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The price of gold traded at $2,468.73 per troy ounce, as of 9 a.m. ET. That’s up 0.04% from yesterday’s gold price per ounce and up 19.47% since the beginning of the year.
The lowest trading price within the last 24 hours: $2,449.49 per ounce. The highest gold spot price in the last 24 hours: $2,479.81 per ounce.

The spot gold price is quoted as XAU/USD, which indicates its value in U.S. dollars. This notation shows that gold (XAU) is being traded against the dollar (USD). In other markets, gold may be traded in different currencies, with common examples being XAU/EUR for euros and XAU/GBP for British pounds.
Spot gold prices are typically given per troy ounce, a unit specifically used for precious metals and slightly heavier than a standard ounce. However, gold prices may also be quoted in grams or kilograms, so it's important to check the units used in any given quote.


Gold price forecast for 2024


Gold has reached several new record highs this year. The rally began in March 2024, with the price climbing to $2,160 per troy ounce. Since then, gold has achieved further significant milestones, including a peak of $2,472.46 per ounce last month. Although the price has slightly moderated to $2,441 per ounce as of August 12, 2024, it remains over $500 per ounce higher than a year ago.
This increase in gold's value is largely due to investors turning to the metal as a safeguard against economic uncertainty, high inflation, and geopolitical risks. The rising gold prices have also rekindled interest in investing in this precious metal.

Many of the experts we spoke with think the price of gold could continue to rise this fall due to factors like geopolitical turmoil and economic uncertainty.


"We have observed the price of gold continue to climb this year amid major geopolitical, economic, and social events. With those tailwinds, I believe the price of gold will continue to increase throughout the fall and into the end of the year," says Brandon Aversano, CEO and founder of Alloy Market Inc., a precious metals exchange.


Gold price forecast for 2025


Analysts have mixed projections for the gold price in 2025; nevertheless, they generally remain upbeat about gold price predictions for the same year.

Lukman Leong predicted that gold could trade at $3,000 or more on robust physical demand, particularly from China。



“We know that gold demand in physical markets is very high. Whatever is being produced is sold out and taken mostly by China’s central bank. China’s gold reserve is still less than 10% of its total foreign exchange reserve. It will take a long time for the country to build up its gold reserve to 10% (of its total foreign exchange reserve).”



On the other hand, Ibrahim Assuaibi, Director at Laba Forexindo Berjangka, has a different outlook for gold prices in 2025. He predicts that gold prices might soften to $2,100 per ounce as geopolitical tensions in the Middle East and Europe are expected to ease. This forecast is an increase from his previous estimate in February, which ranged from $1,750 to $2,000 per ounce.

ING has adjusted its June 2025 gold price forecast to $2,300 per ounce, slightly down from the earlier prediction of $2,310 per ounce. Fitch Ratings also anticipates a decline in gold prices, forecasting a drop to $1,900 per ounce in 2025, though this is an upward revision from their earlier forecast of $1,800 per ounce.

Similarly, TD Economics, in its latest update on June 20, projects that gold prices will continue to decline throughout 2025. The forecast suggests gold will stabilize at $2,350 per ounce in the first quarter of 2025, with a further decrease to $2,175 per ounce by the end of the year.


When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.

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