Gold Rate Forecast – Prediction for Tomorrow, Next 30 Days, Next Months & Years

Gold is considered a valuable asset that never goes out of trend. In this Article, you can find Gold Rate Forecast or Gold Rate Prediction for tomorrow, this entire month, next month and whole financial year 2020-21. Also you can find out Gold rate forecast & predictions for next financial years i.e. 2021-22 & 2022-23.

Do you know that over the past year, gold funds have given average returns of 26.84%? In the March quarter, Gold funds topped the charts with whopping 11% returns.

Latest Factors Affecting Gold Prices, Forecast or Prediction

Gold prices largely depend on these major factors – Re-emergence of Covid, World Economic Situation, US Dollar Value, US-China-Reset of the World Relations, Inflation/ Interest Rates, Printing of Money, and Other Factors. After the pandemic gold’s price will move up, you will see these prices in this gold rate forecast.

If you are looking to invest in Gold, it is hugely recommended to take a look at the past performances of the yellow metal that could help you predict its future performance. However, today, there are various sites that provide understandable info on gold rate forecast. For your reference, below is a chart highlighting gold price prediction for the next 30 days:

Gold Rate Forecast for Next 30 Days

 

Date Weekday Min Max Price
05 – July -2021 Monday 46722 48146 47434
06 – July -2021 Tuesday 47026 48458 47742
07 – July -2021 Wednesday 47311 48751 48031
08 – July -2021 Thursday 46865 48293 47579
09 – July -2021 Friday 46865 48293 47579
12 – July -2021 Monday 47043 48475 47759
13 – July -2021 Tuesday 46950 48380 47665
14 – July -2021 Wednesday 46825 48251 47538
15 – July -2021 Thursday 46830 48256 47543
16 – July -2021 Friday 47344 48786 48065
19 – July -2021 Monday 47060 48494 47777
20 – July -2021 Tuesday 45959 47359 46659
21 – July -2021 Wednesday 45373 46755 46064
22 – July -2021 Thursday 45298 46678 45988
23 – July -2021 Friday 44979 46349 45664
26 – July -2021 Monday 44547 45903 45225
27 – July -2021 Tuesday 44870 46236 45553
28 – July -2021 Wednesday 44895 46263 45579
29 – July -2021 Thursday 44895 46263 45579
30 – July -2021 Friday 44857 46223 45540
02 – August -2021 Monday 45284 46664 45974
03 – August -2021 Tuesday 44462 45816 45139
04 – August -2021 Wednesday 44671 46031 45351
05 – August -2021 Thursday 44715 46077 45396

Please note that these gold prices are just for indicative purposes and the actual prices may vary. This chart intends to give an idea about the gold price trends in near future. You can do your research and find out the actual gold price on a respective day.

 

Monthly Gold Price Prediction – Gold Rate Prediction for 2021

Gold Rate Forecast from April 2021 to Sep 2021

Gold Rate Forecast 2021 (Monthly)
Month Average Close Change%
Apr 46715 48892
May 49814 50358 2.998%
Jun 49557 49125 -2.448%
Jul 48209 47651 -3.001%
Aug 46787 46270 -2.898%
Sep 47143 47658 3.000%

 

Gold Rate Prediction from Oct 2021 to March 2022

The below chart defines the gold price prediction for 2021-22.

Month Average Close Change%
Oct-21 46770 46228 -3.001%
Nov-21 46267 46280 0.112%
Dec-21 45418 44892 -2.999%
Jan-22 44073 43580 -2.923%
Feb-22 44402 44887 2.999%
Mar-22 45734 46234 3.001%


Gold Rate Forecast for 2022 – 2023

Month Average Close Change%
Oct-22 53078 52671 -2.242%
Nov-22 53665 54251 3.000%
Dec-22 53240 52623 -3.001%
Jan-23 53616 54202 3.001%
Feb-23 54546 54661 0.847%
Mar-23 55692 56301 3.000%
Apr-23 57033 57334 1.835%

The chart clearly indicates that a steady increase in the gold rate is predicted for the 2022-2023 period.

 

Factors that influence the Gold Rate Forecast

  1. Demand & Supply

In any traded commodity, demand and supply play a prominent role in defining its price. Gold is not a consumable product. All gold that ever mined is still available in the world. Also, every year, the amount of gold mined is not very up. And so, if demand for gold goes up, the price goes up since the supply is comparatively uncommon.

  1. Interest Rates

Gold prices have a converse relationship with interest rate. If interest rates fall, individuals don’t get attractive returns on deposits. Hence, they break their deposits and buy gold instead to increase demand and it automatically increases price. And people sell their gold and invest in their deposits when interest rate goes high, it leads to a drop in demand and so the price.

  1. Inflation

When the inflation rates soar high, the value of the currency goes down. Also, most other investment avenues flop to deliver inflation-winning returns. Hence, most people start investing in gold. Even if high rates of inflation last for a longer period, gold acts as ideal privet since it is not influenced by fluctuations in the value of the currency.

  1. Import Duty

India accounts for less than one percent of gold production globally. However, it is the second largest consumer of yellow metal. India imports large amounts of gold to meet the rising demand. Thus, import duty has important role in the gold price.

  1. Government Reserves

The Government of India has several gold reserves. Given its policies, it buys or sells gold through the Reserve Bank of India (RBI). Gold rate can get affected depending on whether it buys or sells more.

Reasons behind the increase in gold prices

Below are the reasons behind the increasing price of gold – 

  1. High liquidity

The RBI enables borrowers to get a moratorium on loan repayments till August 31, 2020. Government also announced multiple economic inducement packages to fuel liquidity into the markets. So, this led to a situation where investors had money to invest but the stock markets were extremely volatile, interest rates were reducing. Hence, they began investing in gold because it is always a safe investment option.

  1. Exchange Rate

The value of Indian Rupee has reduced acutely since the lockdown. At present, it is nearly Rs. 75 against the US dollar. Since India is the second largest importer, such exchange rate variations tend to affect gold rates.

  1. Reduced Gold Mining

One major factor that influences gold rate in upcoming days and gold price prediction is the demand and supply formula. While the demand went up, gold mining activities were immensely impacted due to lockdowns in different parts of the world. This influenced the supply causing the gold prices to increase further.

FAQs About Gold Rate Forecast

Ques- What are the factors that affect gold rates?

Ans- There are lots of factors that are found to make the gold prices fluctuate like liquidity, demand and supply, inflammation, global economy and others.

Ques- Is your gold rate prediction accurate?

Ans- In most cases, this gold rate prediction tries to be as accurate as possible. But the actual gold prices may vary depending on various underlying factors.

Ques- What is the current gold price trend?

Ans- At present, the prices of gold metal are on the upward side. And this trend is expected to continue for coming months.

Ques- What are the different types of gold investments?

Ans- There are different types of gold investments available today including Digital Gold investment, Gold coin investment, gold bars investments and gold ETF investments.

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