Gold price

monitoring daily price changes

How's the gold price doing?

The gold price is currently at $4465.7 per ounce.

Price changes

• 1 month - down by -12.8%
• 3 month - down by -7.0%
• YTD - up by 1.8%
• 1 year - up by 46.7%

Currency impact:

• a stronger USD did not stop gold from rising over the past few weeks

IntroHere we monitor the spot price of gold.

Factors influencing oil pricesKey factors influencing gold prices are global growth prospects, geopolitical events and currency fluctuations.

Key dynamicsGold prices can rise because of (1) higher economic uncertainty, (2) lower interest rates, (3) higher inflation, (4) a weaker USD.

Viceversa, gold prices can fall because of (1) higher interest rates driven by higher growth, (2) less economic uncertainty in general, (3) a stronger USD

Copper vs gold

an alternative sentiment indicator

How is market sentiment doing?

Short-term dynamics (ST)
the copper/gold indicator has turned more optimistic over the past few weeks and in more detail:

• higher since last week
• higher since last month
• higher in the quarter

Longer-term dynamics (LT)

• investor sentiment is below the median level
• sentiment is currently normal

IntroHere we monitor the behavior of a ratio originated from dividing the copper price with the gold price, defined coppergold. It is an alternative sentiment indicator.

CopperCopper is an industrial metal. It's widely used in construction, manufacturing, electronics, and infrastructure projects. Because its demand is directly tied to industrial activity and economic growth, copper prices tend to rise when the global economy is expanding and fall during economic slowdowns or recessions. It's considered a cyclical commodity.

GoldGold, on the other hand, is primarily seen as a safe-haven asset and a store of value. Its demand tends to increase during times of economic uncertainty, geopolitical instability, or higher inflation, as investors seek to preserve wealth and protect against market volatility. It's considered a defensive asset.

Copper vs goldRising copper prices faster than gold prices (or falling gold prices) would push the coppergold ratio up, suggesting positive sentiment and economic optimism. Viceversa, falling copper prices faster than gold prices (or rising gold prices) would indicate negative sentiment and economic pessimism, as investors would be seeking safety.

Market implicationsA rising coppergold would often correlate with higher stock prices and rising bond yields (on expectations of higher interest rates to follow). A falling coppergold ratio would often correlate with lower stock prices and falling bond yields (on expectations of lower interest rates to follow). Be aware that coppergold is more reliable as a long-term indicator than for short-term fluctuations.