Short-Term Gold Outlook
In 2017, gold prices remained steady despite volatility of other metals. Currently, gold trades over $1,300 an ounce and its 52-week high and low range goes from slightly above $1,200 to $1,366. By the end of 2018, ABN AMRO predicts a price close to $1,400, while PRICE Futures Group expects gold to be between $1,400 and $1,500 by December this year.
Goldman Sachs, meanwhile, expects a low of $1,200 an ounce and a high of $1,375 during the same period. Based on these predictions, gold stands a chance of exceeding $1,400 for the first time in five years. Learn more about US Money Reserve: https://www.huffingtonpost.com/author/angiekoch-usmoneyreserve-894 and http://spectrumlocalnews.com/tx/austin/news/2017/11/16/us-money-reserve-gives-to-harvey-relief.html
There are several trends developing that can affect the value of gold. One is the growth of global income and resulting demand for gold, especially in countries like China and India. Another trend is the constant production.
As demand rises, supply is likely to remain constant or even decline. There’s also weaker dollar. If dollar declines, commodity prices, including gold, often rise. Moreover, as geopolitical tensions rise, gold benefits as it’s considered to be a safe haven.
Short-Term Silver Outlook
During 2017 silver was more volatile than gold. Currently, silver trades around $16.50 an ounce, which is about 80 times less than gold. As of April, its 52-week low was $15.21 and a high stood at $18.21.
Sharps Pixley, a bullion trading company from London, expects the average silver price of $18.08 an ounce in 2018. Meanwhile, HSBC expects it to be $17.92, while Goldman Sachs expects silver to stay steady and then slowly rise. All these forecasts are somehow bullish.
The trends that are likely to influence silver’s price are industrial demand (growth of industries reliant on silver) as well as increased demand for silver coins and jewelry.
U.S. Money Reserve
A wide variety of products is offered, including both silver and gold bars as well as coins of various sizes. Investors based in the United States can also open precious metals IRA accounts with this company.