Buying gold bars is one of the best options to invest in physical gold today. To do it correctly, one of the key aspects is the price of gold. It is very important to be up to date with all the variations that occur in the price of the precious metal, the rises, the falls, as well as the forecasts made by expert analysts. Taking them into account can make a difference when it comes to finding the most appropriate moment to buy or sell gold, either in the form of coins or ingots.
Gold price could exceed $2,000 an ounce
Although gold comes from chaining several consecutive months of price falls, some analysts are optimistic and point to the possibility of it rising this fall, due to the complications we are experiencing at an economic and financial level. Everything indicates that the precious metal can exceed the figure of 2,000 dollars an ounce, according to forecasts by RBC Capital Markets, a number that the price of gold has not exceeded since March.
Some geopolitical tensions can help in this regard:
- The ongoing war between Russia and Ukraine.
- Tensions between the United States and China over Taiwan.
- Geopolitical difficulties related to the global energy and economic performance crisis.
These points lead to a current of investors who visualize the high risk of the situation and perceive gold as a haven asset.
Forecasts point to two possible scenarios:
- A strong dollar and more rate hikes, with gold around $1,679 an ounce in the third quarter, and $1,663 in the fourth. The annual average would be $1,773.
- A scenario with more optimistic forecasts, with greater geopolitical risk, which places gold at $2,036 an ounce in the third quarter of 2022, and at 1,986 in the fourth. The annual average in this case would be $1,944 an ounce.
On the other hand, analysts at the US investment bank Goldman Sachs have also released their forecasts for the price of gold, pointing to 2,500 dollars an ounce by the end of 2002. They expect gold to appreciate this year, after closing 2021 with a drop of 4% compared to the end of 2020.
In their report, they state that as the end of the year approaches, the chances of the United States entering a recession will grow, which would imply a possible large increase in the price of gold.
In addition, they affect the rise in inflation as the main factor for the increase in the price of gold throughout this year. This rapid and sustained rise in inflation can lead gold to exceed the appreciation of other investment assets such as stocks or bonds, among others.