Other

Gold expected to sink below $1,200 in Q4

OtherOct 02, 2014

Gold expected to sink below $1,200 in Q4

The price of gold sunk to its lowest point of the year earlier this week and is expected to dip below $1,200 at some point in the fourth quarter, pushed down by the strengthening U.S. dollar. 

New York--The price of gold sunk to its lowest point of the year earlier this week and is expected to dip below $1,200 at some point in the fourth quarter, pushed down by the strengthening U.S. dollar.

According to a news report on Kitco.com, gold hit $1,208 in early trading Tuesday, recovering throughout the day to close at $1,216.50 on the London PM fix. 

After holding steady Wednesday, the price sunk again on Thursday, closing the day at $1,211.75 an ounce. 

The average price for gold in September was $1,239.88 an ounce, the lowest monthly average of the year. January came in second at $1,244.80.

London-based analyst Andrew Leyland, the manager of precious metals demand at Thomson Reuters GFMS, said the recent decline in the gold price was expected, given the strengthening of the U.S. dollar and, to a lesser extent, the settling of the market after being shaken up by the crisis in the Ukraine. 

He said the average per-ounce price of gold in the fourth quarter is forecast at $1,215, with the price expected to dip below $1,200 at some point. 

Thomson Reuters GFMS forecasts gold to end the year averaging $1,270--an increase from its past prediction of $1,243 due to higher-than-expected prices earlier this year--before declining in price in 2015. Leyland said the average forecast price for gold next year is $1,175 an ounce. 

RELATED CONTENT: Metal prices expected to remain relatively steady

The falling price of gold, improving economic situation and re-stocking by retailers are expected to give the yellow metal a boost at the U.S. registers this holiday season.

“In the U.S., as the prices of gold got very high, manufacturers had to move to these [alternative] products … the consumers weren’t particularly comfortable with this,” Leyland says. 

But now, “Those trends have been reversing,” and as the price has come down, retailers that pulled gold jewelry from their showcases now are stocking it again, giving today’s more confident consumers the chance to buy it.

While gold is poised for a solid fourth quarter in terms of consumer demand, one question mark that remains around the metal is how the ongoing “Umbrella Revolution” in Hong Kong will affect its price. 

Leyland said some analysts believe the protests could drive up the price, as political crises sometimes do. Others predict it could result in a drop in demand in the world’s largest

market for gold, thus depressing the price. 

“The market is still trying to decide what impact it will have. There really hasn’t been any clear direction based on the news coming out of Hong Kong,” he said.  

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

2025 National Jeweler Retailer Hall of Fame inductees
Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame Inductees

This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.

Harwell Godfrey Granny Square Eleanor Necklace
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

 Laura Gallon Joaillerie “Dynasty” ring, Bijules “Compass” bolo tie, Löf “The Orbitalis” ring
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design Atelier

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

DCA-student-cert-NJ1872x1052-2.png
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry Business

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Jack Abraham The Royal Ruby Collection
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las Vegas

The “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.

Weekly QuizJun 05, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Daymond John
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

Vaishali Banerjee and Pallavi Sharma
MajorsJun 05, 2025
Platinum Guild International Updates Leadership Team

Two existing executives have been given new roles.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

Meredith Tiderington
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship Recipient

Meredith Tiderington, an electrical engineering student, was selected for the award.

The Gemological Institute of America’s logo
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown Diamonds

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

Exterior of the Venetian and the Las Vegas Sphere
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 Sessions

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

JCK show
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Amy Curran
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.

Her new role is director of strategic initiatives.

The eight rings in Viviana Langhoff’s AU79 jewelry collection
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into Gold

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

Gold and diamond bangles on a pair of jeans
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%

On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.

Woman’s hand holding shopping bags
SurveysJun 03, 2025
Consumer Confidence Improves in May

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

Dakota Johnson as Roberto Coin Brand Ambassador
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand Ambassador

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

Mason Kay Jade necklace
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade Reports

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Gemfields ruby
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat Ruby

The large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.

Adobe Stock image of skyline of Bangkok, Thailand
GradingJun 02, 2025
GSI Opens New Lab in Thailand

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Seaman Schepps pearl earrings
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June

Those born in June have a myriad of options for their birthstone jewelry.

David Allouche
SourcingJun 02, 2025
David Allouche Joins Grandview Klein Diamonds

The diamond industry veteran has been named its senior sales executive.

Movado Connect 2.0 watches
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment

The company plans to raise the prices of select watches to offset the impact of tariffs.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy