Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$2,616.45
-2.89
-0.11%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | -0.33% | -0.26% | -1.11% | -2.54% | -2.13% |
Gold Price Forecasts - Analyst Predictions
Gold-Eagle has been analyzing gold markets and publishing gold price forecasts for over 23 years. Our staff and contributing analysts include world reknowned precious metal experts and market analysts. The gold price forecast data below represents the average predictions of a diverse panel of expert gold market analysts. Their assessments of gold price trends are based on a variety of methods including: expert technical analysis, market fundamentals, current market sentiment, and an analysis of global economic and political events. Bookmark and/or link to this page to check back every week. Updated every Monday am.
Last Updated: October 22, 2024
Gold Forecast Short Term
Bullish
Price Drivers for next 6 weeks:
Dollar, elections, Federal Reserve policyGold Forecast 1 Year
Bullish: $3,200
Medium-term price drivers:
US dollar, bear market in stocks and recession, investor sentimentGold Forecast 3 Years
Bullish: $4,825
Long-term price drivers:
US dollar, US budget deficits, central bank monetary debasement, negative real interest rates, and the potential for an uptick in sovereign buying.Featured Gold Price Forecasts
In light of the recent market action, I wanted to post another update on the Gold cycles positioning - which are offering up a mixed picture, near-term.
Gold's 72-Day Cycle
The 72-day cycle is currently the most dominant cycle in the Gold market, and is shown on the chart below:
From the comments made in past articles, the downward phase of this 72-day cycle was seen as in force - which took prices back to our 72-day moving average and the lower 72-day cycle band, a normal expectation.
Later, the low for this 72-day cycle was confirmed to have been made in mid-November, and with that the upward phase of this wave was favored to push higher into January - though the move is expected to end up as countertrend - against the 2825.90 (February, 2025 contract) swing top, made back in October.
Stepping back then, another try at a rally into January - if seen - would peak our 72-day cycle, if that peak has not already formed. In other...
Gold has had quite a run for 2024, up over 25% year to date as this article is going to press in late-December. Will the advance continue in 2025? Or will the new year see a reversal for gold prices after 2024’s strong performance?
Gold Rising Trend Until Proven Otherwise
Gold is within a clear rising trend, which began at the 2022 low of $1,615 per ounce. According to the principles of technical analysis: “A rising trend is valid until proven otherwise.” In this article, we will examine the price levels which will show us that gold’s rising trend is still intact for 2025.
To do so, we will refer to the chart below:
First, notice the series of reaction highs (blue arrows) which began to form after gold broke out above its four-year resistance of $2,075 in March. A series of three reaction highs (blue arrows) formed sequentially in April, May, and July – all along a gently-sloped rising trend. This rising trend defined a resistance boundary.
Next note how gold finally broke higher from the rising resistance in August (red circle). Following such, on two separate occasions, this former resistance acted as support (blue arrows), thus illustrating the classic technical analysis principle that resistance, once broken à...
More Gold Price Forecasts
Gold tested crucial resistance around $2,760 and then reversed sharply. Unless there’s a rapid shift, this likely signals the end of the current rebound. Silver stalled above $33.00 on Thursday, and the likelihood now leans towards a secondary decline towards $28.50...
With the most recent market action, I wanted to post a quick update on the Gold cycles, then to take a detailed look at the U.S. stock market.
As mentioned in my prior articles, Gold was in the range where a key peak was expected to form, and with that was due for a sharp correction, first with a tracked 72-day wave, but ideally also with a larger 310-day component. Having said that, a sharp, short-term...
Gold reached its peak in October and is now undergoing an intermediate decline, which could see prices drop toward $2,450 in December. The recent rebound in gold was anticipated, but it may be nearing its end. Prices are approaching key resistance levels between $2,...
From the comments made in my prior articles, Gold was in mid-term topping range, and with that was at risk to a larger-degree price decline. That decline phase is now in full force with the action in recent weeks, and should have more to run before forming the next...
Last week, I wrote Gold Could Collapse or Challenge $3000 in November. This week's election results support the former, and the odds now favor a pullback in gold to its 200-day MA (currently $2,400).
Gold formed a swing high after reaching our $2,800 target, and a pullback is overdue. Given the election outcome and next week's Fed announcement, prices could go either way in November. If gold corrects, the initial drop could be sharp, followed by sideways trading...
From my prior articles, Gold is back in mid-term topping range, and with that is at risk to a larger-degree decline phase in the coming months. Having said that, this decline has yet to be confirmed in force, though we are keeping a close watch on the current price...
Gold is nearing our $2,800 target, with the potential for further gains into year-end. Historically, during the last two Fed rate-cutting cycles, gold surged approximately 40% following the initial cut. If this pattern holds, gold could reach $3,500 next year.
Gold Price Forecast FAQ
How do you forecast the price of gold?
Predicting gold prices can be said to be both a science and an art. For example, analysis of gold supply and demand is scientific and completely objective whereas aspects of technical and sentiment analysis of the current gold market can be more of an art as it relies on the skills and perspective of the gold analyst.
Generally speaking, when the focus of the gold forecast is longer term then analysis of the fundamentals, ie scientific analysis, comes to the fore.
For shorter-term predictions of gold prices, the price of gold in the coming weeks and perhaps few months, technical analysis of past and current gold prices, market trends, as well as current market sentiment can be more actionable predictors. Here, the fundamentals can still play a role but generally serve more as background details.
What are the key factors for long term gold forecasts?
When forecasting what may happen to the price of gold longer term, there are many things to consider including economic trends, the impact of current and expected monetary policy, QE, debt monetization, and the aggregate impact on future currency valuation.
Does the price of gold go up when the stock market goes down?
The price of gold is often negatively correlated to the stock markets. When the markets go down, gold prices usually go up. However, this is not always true. Sometimes the price of gold and stocks both go up and down in unison. Fundamental factors play an important role and need to be carefully analyzed. Historically, however, the price of gold is not tied to the fluctuations of stock and bonds. This is one of the chief reasons when one should have gold in their portfolio – to protect the long-term value of your investments.
Does the value of the US dollar predict the price of gold?
As gold is traditionally quoted in US dollars, the price of gold is negatively correlated to the strength of the USD. The weaker the US dollar, the cheaper it is to purchase gold. Therefore, if economic factors predict a strengthening of the US dollar then this will tend to drop the price of gold, and vice-versa. According to the statistics (since 1973), the long-term correlation between the U.S. dollar index and the gold prices is -0.6 so this link is quite strong.
How do US interest rates impact future gold prices?
The level of US interest rates is an important driver of future gold prices. When investing in gold, the investor is faced with the opportunity cost of gold - a non-interest bearing asset. The higher the US interest rate for holding US dollars or investing in Treasuries, the higher the opportunity cost of holding gold. It is more likely, therefore, that a rally in the price of gold will be forecasted the lower the US benchmark interest rate.
Gold Forecast Analysts
Technical Analysis Expert & Editor @ GoldPredict.com
AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of GoldPredict.com where members receive daily updates and regularly scheduled reports 3-days a w More...
Chief Analyst & Founder @ iGold Advisor
Christopher Aaron began his career as an intelligence analyst for the CIA and Department of Defense. He served two tours to Afghanistan and Iraq between 2006 - 2009, conducting pattern-of-life mapping for military leaders.Mapping shares similarities More...
CFA, Editor & Founder @ Sunshine Profits
Przemyslaw Radomski, CFA, is the founder, owner and the main editor of SunshineProfits.com. You can reach Przemyslaw at: http://www.sunshineprofits.com/help/contact-us/. More...
It is estimated that the total amount of gold mined up to the end of 2011 is approximately 166,000 tonnes.
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