Gold had ended 2013 at $1206.80 per ounce and as you can see, today we are almost at the same level where we were one year ago.
The XAU/USD pair posted first weekly loss in three weeks as a strong rally in the U.S. dollar and waning inflationary pressure curbed demand for the precious metal.
The price of gold bullion tumbled another $29 per ounce on the last trading day of the week and the month as investors liquidated bullish bets after the American dollar got a boost from the Bank of Japan's unexpected decision to expand its already massive monetary stimulus program.
Gold prices suffered a monthly loss of nearly 5.5% as a rally in the U.S. dollar and gains in the major stock markets dulled the precious metal's attractiveness.
The XAU/USD pair rose %0.55 over the course of the week as concerns over escalating conflict between Ukrainian troops and pro-Russian rebels in eastern Ukraine increased desire for the relative safety of gold.
Get the gold price forecast for the month of August 2014 here.
The XAU/USD pair (Gold vs. the American dollar) scored a gain of 0.74% on Thursday as the unfolding problems in Portugal reignited concerns over the European banking sector.
The gold markets rose higher during the session on Thursday, piercing the $1335 level.
The XAU/USD pair scored a gain of 5.3% on a monthly basis as the U.S. Federal Reserve’s dovish stance and geopolitical unrest in Iraq and Ukraine buoyed the precious metal’s appeal. Get the forecast for the month of July 2014 here.
Gold continued to gain ground against the American dollar during Friday's session and closed the week at $1276.68 an ounce, the highest level since May 28. Learn where the XAU/USD pair is headed over the next 30 days here.
The XAU/USD pair settled slightly higher on Tuesday, marking the first rise in seven trading sessions, as caution set in ahead of high impact economic data releases later this week.
Learn where the XAU/USD (Gold) pair is headed for the month of June 2014 with this forecast here.
Gold prices climbed 1.6% since the beginning of the month, supported by escalating tensions between the West and Russia over Ukraine. Learn where Gold is headed for the upcoming month of May 2014 here.
Check out the Gold monthly forecast for November 2013 here.
The gold markets have had a fairly strong bounce recently, mainly because of the Federal Reserve and its decision to hold off on tapering. The markets were a bit taken back by that, but since then we have seen other questions asked about the economy, so at this point- the gold markets are going to be bumpy to say the least.