Do you know what’s going to happen to the gold price over Christmas?
While there are some trends we can spot, like many things in the gold market, it’s difficult to make conclusive predictions. With economic and geopolitical situations becoming ever more volatile, it’s becoming difficult to predict the gold price over an afternoon, never mind the next few weeks.
But taking an opportunity to look back over the gold price trends from the Christmas period over the last few years could give us a few ideas. Here’s what happened in recent years.
What will happen to the gold price?
In general, there tends to be a modest upswing in gold prices over Christmas. The reasons for this are thought to be related to demand – demand is increased when people start buying gold products as gifts. But this doesn’t always necessarily materialise in as neat a price rise as you’d think and there are of course multiple additional market factors at play.
2016
In 2016, the gold price actually dropped significantly over November, losing almost 16 per cent of its value between the 3rd of November and the 18th December. Prices then rose again leading up to the New Year period; the precious metal reclaimed just over 4 per cent of its value between the 18th and the 3rd January 2017.
2015
A similar trend occurred on a smaller scale the year before. Gold lost 4.75 per cent of its value between November 1st and December 17th 2015, before rising again by 1.79 per cent to £718.36 at the start of 2016.
What does this tell us about gold prices? It means that if you’re looking to buy gold for a friend, relative, or maybe just yourself over the Christmas period, there’s a good chance that prices may rise as we move into December. It’s not certain, but it’s something to be aware of.
Buy gold with The Gold Bullion Company this Christmas
If you’re considering buying gold this festive season, take a look at our range of commemorative gold coins for some inspiration on that perfect Christmas gift idea.
