As the New Year is here, one of the most important and frequently asked questions is what we predict for gold prices in 2017. Now, as we know, predicting gold prices is a very difficult task, as there are many factors that contribute to this phenomenon. We decided to review some reliable sources and put forward a general idea for our valued clients, so that they can make the best of their valuables.
First and foremost, much of the previous predictions done by banks have been quite off over the years. Perhaps these predictions were put in place to affect consumers in one way or another, we don’t know. However, because of the predictions being off, we have decided to keep banks off of our reliable sources.
Moving on then, according to GoldStockBull.com, gold prices in 2017 should be on average $1600.00/ounce. Some sources also believe the Trump takeover can have a huge impact on these prices.
For the sake of comparing, The Royal Bank of Canada had predicted for gold prices to be around $1300.00/ounce, but later changed the number to 1500.00/ounce.
Bank of America decided to keep the predictions quite low and suggested about $1200.00/ounce up until mid 2017.
If the determined prices mentioned above are deemed to be accurate, then we would say gold will be pretty consistent with the prices in 2016. 2016 had some great highs for gold, and some understandable lows.
Since gold is a precious metal that never really loses its value, you also have the option of pawning your gold, so you never really lose it until the price is right.
For more information on loans against gold, visit our “Loan for Gold” section of the website.