The threat of exacerbation of trade conflicts, the volatility of oil prices and the correction of the US stock market made the question about the prospects for the yellow precious metal one of the most pressing at the end of this year.
Despite the fact that some economists believe that next year gold will fall in price below $ 1,000 per ounce, most experts consider such a scenario unlikely and predict an increase in the value of gold.
In particular, according to experts of Bank of America Merrill Lynch (BofAML), in 2019 the average price of gold will be $ 1,296 per ounce.
"This year, factors such as increasing real rates, the rise of the US economy and the strengthening of the US dollar position put pressure on the precious metal rate. It is assumed that next year these factors will take the reverse vector of development," they noted.
Analysts at investment bank Goldman Sachs expect that in the next three months, the quotes will be at $ 1,250 per ounce, in six months they will rise to $ 1,300 per ounce, and within 12 months, the price will rise to $ 1,350 per ounce. According to them, in the event of a slowdown in US economic growth in 2019, gold will become the main beneficiary of the increased demand for defensive assets.
ABN AMRO Bank is counting on the price rally of gold, up to $ 1,400 per ounce.
"We consider the current ratio of risk and return on precious metals to be quite attractive," said representatives of the financial institute. According to them, next year the increase in the cost of precious metals will occur due to the reduction of speculative short positions.
"The gold market has good chances of growth due to its safe-haven status. In 2019, the precious metal can rise in price to $ 1,500 per ounce," said Commerzbank.
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