The gold price remains under pressure. Some bank analysts now expect the same development as in 2008 in the global financial crisis. How deep could gold go? Here are the latest gold forecasts from some financial institutions.
Gold price remains under pressure
The gold price recovered somewhat from the losses of the previous days on Tuesday – especially calculated in euros. There were losses again on Wednesday. At 8:30 a.m., the troy ounce of gold on the spot market cost $ 1,508 an ounce. That corresponded to 1,369 euros. Silver remained under pressure after the devastating fall in prices at the beginning of the week. At $ 12.52, the silver price was 0.6 percent below the previous day.
Volatility rules on the stock exchanges. The vehemence of short-term price fluctuations has reached an incredible level. The share prices also fell on Wednesday after the previous day’s recovery. A few weeks ago, the banks had raised their gold price forecasts. However, the wave of liquidation still doesn’t seem to be over. Since the beginning of the year, the international gold price has now been 1 percent down. Calculated in euros, there is still a small book gain of 0.8 percent. At the current level, silver moves beyond good and evil. The price of the metal was last lower in February 2010. How do the analysts at the big banks now assess the situation for precious metals?