Gold Forecast 2022

Gold Forecast 2022

According to the China Gold Association, the country’s gold consumption rose by more than a third in 2021 year-on-year as the country’s economy recovered from the impact of the coronavirus. Consumption at the world’s largest gold consumer rose by 36.53 percent year-on-year to 1,120.9 tons. It also increased by 11.78 percent compared to consumption in 2019, before the pandemic.

The precious metals group Heraeus
The precious metals group Heraeus believes a historic high for the price of gold of 2120 dollars is possible this year. In addition to the fear of inflation, the fear of war could also drive investors into the precious metal at times. “Gold remains a safe haven and an insurance against geopolitical risks, and the risk of persistently high inflation is also positive for gold,” said AndrĂ© Christl, head of Heraeus’ precious metals division, on Tuesday when the forecast was presented. The development is supported by gold purchases by the central banks and increased demand from the jewelry sector, even if the pre-corona level has not been reached. Jewelry accounts for around half of gold demand.

Trade Team Forecast
Currently there is only positive news about gold. It is precisely the fear of inflation that plays into gold’s cards. As can be seen in the graph, there has not been a strong increase in the last 10 years. We think that this year the breakthrough can come again. Trade Team estimates gold at at least 1950 euros by the end of 2022.

Leave a Reply

Your email address will not be published.