Last minute statement came from the World Bank. In the statement made, an important estimate about gold prices, which set a record on record due to the new type of coronavirus, was published. In the published estimate, evaluations regarding oil, natural gas and other products were also included.
The World Bank’s April 2020 issue of the Commodity Market Outlook Report was made available to the world public with the title “Impact of Kovid-19 on commodities”.
In the report, it was stated that almost all products showed sharp decreases in the last 3 months due to the corona pandemic, and an unprecedented decrease in oil demand after the measures to control the epidemic. The report said that weak economic growth will further reduce the demand for general commodities.
OIL PREDICTION
In the report, which includes estimates regarding oil prices, it is stated that the energy commodity prices formed by oil, natural gas and coal are expected to decrease by 40.3 percent compared to the previous year and 5.1 percent by non-energy commodity prices such as agricultural products.
RECOVERY IN 2021
In the continuation of the report, it is stated that a recovery in economies is expected in 2021, while the prices will increase by 18.9 percent next year and non-energy commodity prices will increase by 2.5 percent.
The forecast is at this level in the report, which indicates that the price of barrels of crude oil fell by 43 percent compared to the previous year, to an average of $ 35 a year. In the report on the price of barrels of crude oil, it is reported that it is expected to reach an average of $ 42 in 2021 with an increase of 20 percent.
GOLD PREDICTION
In the continuation of the report, remarkable notes about gold prices were also included. In the statement, which stated that gold prices will increase this year, it is expected that the prices of metals and minerals will decrease by 13.2 percent compared to last year.
On the other hand, the price of precious metals was predicted to increase by 13.2 percent.
The report stated that the ounce price of gold will increase by 14.9 percent this year compared to last year.
FORECAST OF 2021
In the report, it was estimated that the price of ounce of gold will decrease by 0.6 percent in 2021 compared to 2020.
HOW MUCH IS GOLD?
High levels continue underneath. According to the last minute information received, gram gold rose to 386 TL.
Quarter gold is bought for 621 TL and sold for 626 TL.
Republic gold is bought for 2541 TL and sold for 2562 TL.
22 carat bracelet gram price is 352 TL at purchase and 356 TL at sale.
The ounce price of gold is around $ 1712.
