Gold price trends sideways in March as dollar strengthens, yields slip agmetalminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from agmetalminer.com Daily Mail and Mail on Sunday newspapers.
The
Global Precious Monthly Metals Index (MMI) dipped 0.7% for this month’s index value, as gold prices have continued to slide.
Stay up to date on MetalMiner with weekly updates – without the sales pitch. Sign up now.
Gold price dips below $1,700/oz
Amid economic uncertainty and turbulence, many turn to traditional safe-haven assets like gold.
However, the gold price has been on the decline since August.
The gold price reached an August peak of $2,035 per ounce. The price fell below $1,800 around Thanksgiving before recovering to around $1,950 at the start of the year.
Since then, gold has come back down, falling to $1,698 per ounce on Monday.
The
Global Precious Monthly Metals Index (MMI) gained 1.5% for this month’s index value, as the gold price has lost some of its gains from the summer.
Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more.
Gold price gains
MetalMiner’s Stuart Burns recently checked in on the gold price and where it might be expected to go in 2021.
As precious metals watchers know, the gold price has enjoyed a sharp rise this year amid the global pandemic.
“The bulls are predicting a resurgence in the price to U.S. $2,300 per troy ounce in 2021,” Burns wrote.