Gold Price Forecast & Predictions: 2023 and Beyond After falling below $1200 per ounce in 2018, gold rebounded sharply over the next 12 months, and a significant bullish trend began. Its yield increased by almost 20%, whereas its quotes went up to $1,556 per ounce. The rally continued in 2020. The COVID-19 pandemic increased the popularity of the precious metal as a hedging instrument, which has led to an increase in its price. 2021 saw several ups and downs in the price of gold. The reasons behind them were different. Coronavirus relief packages and periods of economic recovery led to a decrease in the price of gold — while rising inflation, the spread of the pandemic, and geopolitical tensions made investments into gold much more attractive. The end of 2021 and the beginning of 2022 were quite turbulent, which pushed gold’s price practically to the highs of July 2020.   In this article, we'll look into historical data, see what experts have to say, and make a gold price forecast and prediction for 2022 and some years ahead.