Gold prices are struggling again. We do not believe that prices had risen beyond levels that could ever be justified by fundamentals. Nor is it hard to imagine circumstances where they might spike higher in the next few months. However, the occasional short-lived rally and the absence of a bubble in gold prices is unlikely to prevent them from falling well below $1000/oz by year-end as inflation fears fade and the US dollar strengthens further.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services