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What Will Influence the Gold Price in 2018?

The gold price in 2017 rose modestly, but reliably. In a year dominated by Brexit, tensions with North Korea and uncertainty in the US, there have certainly been plenty of factors that have weighed on and bolstered the gold price.

But what’s going to happen to the price now we’ve entered 2018, and what are the main factors that are likely to influence it?

What are the predictions for the gold price in 2018?

While there’s no way to accurately predict the price of any commodity, there seems to be a broad consensus among market experts that gold will continue to rise reliably through 2018.

Accounts differ as to the rate of this growth with some saying it will be slower than 2017, and others predicting a rise of just over 17 per cent against the dollar.

What to watch out for

If you want to predict what’s going to happen to the gold price through 2018 and beyond, there are a few contemporary factors that you should pay attention to.

Here’s a look at what’s most likely to affect the market in 2018:

Geopolitical tensions

Uncertainty and instability often inflate the gold price. In 2018, the political spat that’s underway between the US and North Korea is likely to continue bolstering gold.

US Federal Reserve rates

Talk of US Federal Reserve rate rises have weighed down on gold through 2017. These rises seem more and more likely as we move through 2018, and chances that this will weaken gold therefore remain high.

Brexit negotiations

A list of economic uncertainties in the New Year couldn’t be complete without Brexit. Ahead of ‘Brexit Day’ in March 2019, 2018 looks set to be the crunch year for the tough negotiations. Any uncertainty about the progress of these talks, and the future potential trade deal will likely continue to weigh on the pound and bolster gold.

US economy

When the US economy underperforms, gold tends to rise, with the opposite being true when it performs well. Economic figures that track progress in the American economy will likely continue to affect the gold price. Pay attention to GDP figures, growth figures, and the size of revenue collected by the Federal Reserve.

If you think now is the best time to take advantage of the current gold price and buy gold bullion, have a look through our range of gold bars and gold coins.

Article Last Updated: Wednesday, January 10, 2018