The Gold Price Trends of 2017

Gold price rises over the course of 2017 have been noticeable but not dramatic. After a year of geopolitical tensions, continuing talk of a rise in US Federal Reserve rates, and disappointing US economic forecasts, gold’s role as a safe haven investment remains as defined as ever.

The market has approached 2018 with more optimistic forecasts than it has seen in recent years. But here’s what has been playing on investors’ minds over the past 12 months.

2017: The highlights

Gold started off the year on the 4th January at £935.12. In total, the price inflated by just over 3 per cent across the entire year, with the highest price on the 31st December being recorded at £964.88. The two highest recorded fix prices of 2017 were £1,025.91 on April 14th and £1,029.02 on September 4th.

Some of the most dramatic fluctuations of the year were recorded in the closing weeks of December, as the price fell from a 10-day high to a 5-month low. 2017’s lowest price was recorded on the 13th December, at £928.38, before rising sharply ahead of the New Year.

What influenced the gold price in 2017?

Over the opening months of the year, the gold price rose gradually, peaking at three notable occasions, on the 6th January, 27th February and 13th April, at incrementally rising peaks of £996.81, £1,012.17 and £1,025.91, respectively.

Geopolitical tensions in North Korea, coupled with continuing uncertainty about the US economy bolstered safe haven buying and led to some of the highest prices of the year.

Investors were reassured by the victory of French president Emmanuel Macron in the opening weeks of May, and the price dropped to a low of £943.89. A further drop to £941.59 occurred on July 11th, following a brief spike on June 6th to £1,003.37.

Gold recovered from this slight dip as the trading moved into September, when prices rose to £1,029.02 on September 4th, following another nuclear weapons test by North Korea.

A dramatic end to the year

During a time period of just two weeks in December, gold dropped from £974.18 on the 28th November to its 2017 low of £929.38 on the 13th December – a dramatic loss in value of 4.6 per cent. Gold’s fortunes began to improve as New Year approached however, and prices rose back to £964.88 on the final days of the year.

Despite these fluctuations, we’re not alone in thinking that the market can look forward to a promising 2018. If you want to take advantage of this opportunity to buy gold bullion, don’t hesitate to check out our range of gold bars and gold coins to get your 2018 investment strategy underway today.


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