The Gold Predictions for 2017

If you have an interest in commodities, you may have had a particularly exciting year. One commodity above the rest, however, has seen an incredible performance. This, of course, is referring to gold. The yellow metal has been the rock star of the economy at a time when the world is facing so much economic instability.

In a rush to overcome all of the uncertainty surrounding the global markets, investors have backed up the precious metal with fervor. This is hardly surprising considering that this is the stand that most financiers tend to take when the economy heads in a downward direction. In 2016, this tendency has continued, being the go-to move for a majority of the investors.

So, we are all caught up for this year, regarding the performance of the yellow metal. 2016, nonetheless, is drawing to a close with only several months until the New Year. This has left investors wondering what 2017 will hold for the precious metal.

The 2017 Forecast

Well, if you were considering buying gold in the coming year, then you were right on the money. It appears that around the world, financial authorities and financiers alike are all in favor of the precious metal for 2017 as well. In fact, just two months ago, HSBC increased its prediction of the gold price to $1,310 for an ounce. The bank said that the investment demand was one of the reasons that they expected prices to go up. Another was the positive idea that many people associate with the yellow metal when the rest of the markets are volatile.

Of course, HSBC’s forecasts are quite mild compared to some of the other financial institutions. For instance, Merrill Lynch and Credit Suisse have even higher aspirations for the precious metal. These financial giants are claiming that the yellow metal will reach prices of up to $1,500 in 2017! RBC Capital Markets, a Canadian investment bank, has also adopted this sentiment.

While not as optimistic, the ABN Amro, a Dutch bank, has also predicted a price of $1,425. The bank is remaining watchful over the price of the precious metal. They claim that in the event that Donald Trump wins the presidency, the prices could soar even higher. Thus, all of these important banks and investment agencies are remaining quite hopeful about the heights that the yellow metal prices will reach.

For the average investor, this too means good things to come. At the very least, it is a good idea to buy a small stock of gold. There is a great deal of political and economic uncertainty in 2016 that is threatening to spill over into the next year. It is this insecurity that is causing the yellow metal to be quite so popular, and apparently this is not a trend that will be fading away anytime soon. Thus, it is important to take a look at what the future most likely holds, and move in a direction that offers the greatest amount of profit. At this point in time, it appears that gold is the glue that is holding the economies together.

Img source: pixabay

About the Author
Sean Lee is a passionate blogger and web content editor with a string of highly-researched and informative articles to his credit. At present most of his posts are focused on various finance related topics including Money, Forex trading, Insurance and credit handling etc. His years of experience in the field of finance has made him one of the leading financial advisers of modern times. He doubles up as financial speaker in seminars, work shops and conferences as well. You can connect with Sean here.here.

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