Gold Prices Continue Upward Trend, Experts Predict Further Gains

The price of gold has continued its upward trend, surpassing its annual low by over 11 percent. On Monday night, it briefly climbed above $4,400 per troy ounce before dropping to $4,394, still 0.4 percent higher than Friday's level.

This recent gain means the price of gold has extended its recovery since June's annual low of $3,943. However, despite the increase, a troy ounce still costs around $1,200, roughly one-fifth less than at the end of January when it reached a record high of just under $5,600.

A number of experts believe that gold prices will continue to rise in the coming months, but they do not think a rapid return to prices above $5,000 is possible. On average, analysts expect the price of a troy ounce of gold to reach around $4,500 by the end of the year.