During the last days of 2021, the gold price was around $1,800 an ounce and according to experts, the yellow metal could see further bearish trends during the years to come.

The decline of the gold price from a record $2,000 per ounce in Aug. 2020 to $1,770 per ounce, is expected to continue.

Experts of Wall Street forecasted the price of 1,500 per ounce at the end of 2022 and 1,300 per ounce at the end of 2023. 

One of the main reasons for this trend is monetary policy tightening on a global level. Some central banks have already started with new policies. The Fed will probably join them in mid-2022 and The Bank of England could start until the end of 2021 or later in February 2022. The ECB is likely to do it later compared to the other central banks. Tighter monetary policies generally have a negative impact on gold prices.

The other reason for the forecast is high expectations of the dollar. A higher US dollar is generally negative for gold prices.
Analysts expect the US dollar to rise, especially versus currencies for which central banks are expected to start tightening the monetary policy. 

In addition to the above, we must take into account the ongoing global Covid-19 pandemic. 
As the past two years have already shown, the pandemic can have a very strong impact on the financial markets. In relation to how the pandemic progresses during 2022, will have an impact on the monetary policy decisions mentioned above and so it will indirectly affect the gold as well.