Gold Forecast & Price Prediction for Q3 2025: Will the gold rate decrease in the coming days after testing the $3,500 zone?

Gold price today: Gold spot (XAU/USD) rose as much as 24.8% to $3,500 per ounce at the beginning of 2025, driven by USD weakness that were caused by the unpredictable changes in US trade policy, introduced by the Trump administration, the effects of which have shaken the markets. Fears about geopolitical uncertainty have only added to its allure. 

During the first half of this year, every little weakness or pullback ended up being bought. However, the beginning of Q3 shows signs of a potential shift in market dynamics that requires careful analysis. 

This article provides an in-depth market outlook and gold price predictions for {month} {year}, and beyond, examining critical market themes and key drivers, as well as valuable insights into price action dynamics, that could play a pivotal role in shaping the precious metal's trajectory. 

Gold Forecast & Price Prediction – Key Notes  

• Gold forecast in the coming days and weeks: Although there are some expectations for gold rate to decrease in the coming days following a potential new test of the obvious resistance level, analysts forecast the 3-month sideways pattern to be bullish and resume the uptrend by the end of Q3.
• Gold price prediction 2025: In the short to medium term, a combination of heightened global economic tensions, the risk of stagflation, and a weaker dollar may continue to support bullion. Institutional forecasts were revised up, projecting gold prices to average around $3,500-3,675 per ounce by Q4 2025.
• Gold rate forecast for the next 5 years: Most of the long-term gold rate predictions for were met ahead of schedule and remain bullish for the next five years. Projections for 2030 span a wide range from $4,800 to as high as $8,900, with most consensus targets clustered around $5,000–6,000 if current inflation and uncertainty trends persist.

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Fundamental Gold Forecast Q3 2025

Gold has been one of the best performers among major commodities and assets this year. It has surged nearly 30% so far 2025, supported by expectations of further interest rate cuts from the Federal Reserve, strong central bank buying and robust Asian purchases.  

Safe haven demand amid heightened geopolitical risks as well as economic uncertainty after the US election in November have also supported gold’s record-breaking rally last year.  

FED rate cuts

The US central bank was widely anticipated to lower interest rates at September’s meeting last year after holding them at a two-decade high for more than a year, but traders were split over how much the first cut would be. Yet, the current outlook remains rather grim: The FOMC is expected to cut rates only twice for the remaining part of the year. Strong NFP data since April also underpinned a strong move. The Fed is in no rush to reduce interest rates for now as the stand of the economy remains solid.

Currently, gold is losing some momentum as investors weighed prospects that the Fed would deploy less rate reductions, which would add no boost to the non-yielding bullion. 

Gold, Treasuries and the S&P 500 Index have all typically risen as the Fed starts lowering rates, according to the past six easing cycles going back to 1989.

Fed’s announcement caps a period of flux in the gold market, as some analysts have pointed to a return to more traditional trading patterns, and in particular to gold’s longstanding tendency to rise and fall in the opposite direction to real yields.

That relationship had broken down in recent years, as gold remained historically elevated even as rates soared — with prices supported instead by huge central bank purchases, as well as surging demand from investors and consumers.

In recent months, there have been signs of Western investors jumping back into the gold market too, as bets mounted that the Fed was about to pivot. It remains to be seen whether this trend is due to continue.

The precious metal is in a bull market; it is likely to move higher according to the latest gold forecasts and price predictions (see the next sections). The speed of that move will depend on the pace at which the Fed will ease its policy.

Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.

Since the beginning of the year, the Dollar has fallen more than 11%, following the first rate cut by the Fed in 2024, to its lowest since February 2022 against its rivals. 

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Central bank gold demand picked up last summer

Despite price increases, demand for gold from central banks weakened to a total of 244 tons in the first quarter in 2025. According to figures from the World Gold Council, reported net gold purchases by central banks increased to 20 tons in May, an increase from the 12 tons in April. This is the highest monthly total since the last quarter of 2024, when central bank purchases totaled 244 tons, and it marks a 66% month-over-month increase. This in general was the foundation of the sharp price increase of more than 24% so far this year.

The Reserve Bank of Poland, the Central Bank of China, and Kazakhstan were the top three purchasers so far this year. 

Following a record high of 1,082 tons in 2022, central banks added 1,086 tons of gold in 2024, the highest yearly purchase in history. Considering the present economic situation and geopolitical uncertainty, we anticipate that central bank demand will continue to be robust. Yet, geopolitical tensions continue to calm for now whereas a potential cease - fire in the Ukraine war after Trump took office might now be in a further distance.

China halted buying gold for reserves

Following an 18-month buying spree, China reduced its gold purchasing for reserve purposes in May last year when the precious metal reached an initial high. Data released show that the amount of gold held by the People's Bank of China remained steady at 72.80 million troy ounces in May. However, analysts estimate that China owns way more Gold on discrepancies with import – export data.

China was the top buyer of gold, and central banks' demand for the metal saw its best start to a year ever in the first quarter. In unstable times, when investors flock to safe-haven assets as a buffer against inflation, geopolitical unrest, or the state of the economy, gold prices tend to increase.  

The People's Bank of China purchased just 60,000 troy ounces of gold in April, compared to 160,000 ounces in March and 390,000 ounces in February. Overall, the Central Bank had added 19 tons during the first 6 months of 2025, and the slower demand might be also seen as a reason why the bull market is currently taking a breather. 

ETF inflows

There has been less demand for exchange-traded funds (ETFs) backed by gold. Generally, 2024 marked a substantial outflow into global gold ETFs; negative flows were seen in all regions, with Western funds leading the way in August. This situation has reversed in 2025 as Mike McGlone from Bloomberg reports.

Gold ETF holdings by investors typically increase in tandem with increases in gold prices. With the rise in spot gold prices, gold ETF holdings have also been moving higher. During the first 6 months in 2025 a total inflow of USD 38 billion has been recorded. With a potential decline in the S&P 500 towards the end of this year the inflows might resume pace again.

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Will the Gold Price Decrease in the Coming Days and Weeks since the FED does not act further?

The Federal Reserve implemented its first interest rate cut in its September 2024 FOMC meeting — and that could have far-reaching implications for various asset classes, including gold. So, what can we expect to happen to the price of gold if the Fed continues to cut rates? That's what we'll break down below.

What will happen to gold prices after the Fed cuts rates?

Historically, interest rates and gold prices have been inversely correlated, with lower rates tending to promote higher gold prices. Thus, many analysts continue to have an optimistic view on gold as the Federal Reserve gets ready to lower interest rates. However, there are many things to consider when predicting the future course of gold prices in this current economic climate.  

To begin with, there's a good likelihood that the market has already partially priced in the anticipated rate cuts. Therefore, the gold rate decreased in the coming day following the initial decision in 2024, before bouncing back to $3,500. A complex network of factors also affects the price of gold; these include forecasts for inflation, the strength of the US dollar, and the prospects for global economic growth.  

But while the Fed's rate cuts may not have an immediate impact on gold's price trajectory, some analysts believe that there is now limited room for gold prices to rise further in the coming months. The pace of rate cuts by the Fed is expected to remain slow for now. Only two rate cuts are currently expected towards the end of 2025. The potentially higher borrowing cost would cause the opportunity cost for gold to rather remain high. Most of the investment banks din hence not update their gold forecasts lately, as seen in our dedicated gold price predictions section below.  

These expectations are driven by several factors, one of which is the extraordinary degree of demand for gold by central banks. Global central banks have significantly boosted their gold holdings during the past few years. The conventional relationship between interest rates and gold prices has changed because of this change in central bank action, possibly giving gold prices some volatility time ahead while rates fluctuate.

The price increase is being driven by investors' sustained demand, which is also expected to contribute to future price growth. The price of gold is expected to rise as more investors purchase it to profit from its rising price trend or to take advantage of the numerous other advantages it provides. Another factor not mentioned before could also be a potential slowdown in the economy. 

A significant factor in gold's attraction and likelihood of price growth in the upcoming months is the ongoing geopolitical strife. Gold's reputation as a safe-haven asset is probably going to be strengthened if tensions in the world continue and worries about the amount of debt in the United States increase. As a result, investors looking to diversify their holdings and hedge against future market volatility—both institutional and retail—may become more in demand. Still, if Donald Trump and the EU would indeed find ways to de-escalate the war in the Ukraine, this could be another reason for shaky gold prices in the coming weeks. Even the news about such event might cause volatility to increase and gold prices to retrace to lower levels.

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Is it Time to Invest in Gold?

Determining whether it's the right time to buy gold or invest in gold assets depends on various factors, including your financial goals, risk tolerance and overall portfolio strategy. For the right investor, though, the current economic climate and market conditions may present an opportune moment to consider gold as part of a diversified investment strategy.  

Gold has, after all, long been used as a hedge against economic uncertainty, inflation, and currency devaluation. Furthermore, the appeal of gold as a safe-haven asset may grow as the Federal Reserve prepares to lower interest rates and if there are uncertainties in the global economy. Therefore, according to experts investing a portion of your money in gold could offer some stability and safety if you're worried about future market swings or want to diversify your portfolio.

There appears to be a fundamental shift in the perception of gold as a reserve asset, as seen by the continuous demand from central banks, especially in emerging nations. Gold prices may get long-term support from this increasing institutional demand, which might make it a desirable investment for investors with longer time horizons.

However, it's crucial to approach gold investment with a balanced perspective. While gold can offer portfolio diversification and potential protection against economic downturns, it does not generate income like dividend-paying stocks or interest-bearing bonds. Gold prices can also decrease in the short term, so it's best to view this investment as a longer-term option. 

Technical Gold Forecast Q3 2025

Gold has found a new all-time- high at $3.500, which has been created in April 2025. Ever since the market remains in a sideways pattern. The trend remains positive, but the market has not been able to generate a new high just yet. The sideways pattern also shows that higher lows are being created, another reason that the bullish trend remains intact but profit taking currently might be a reason, which keeps the market at bay.

Momentum favors sideways price action. The Relative Strength Index (RSI) remains in overbought territory and could signal that profit taking might remain on the cards. Therefore, traders should apply caution with fresh buying for now until the least resistance is tilted to the upside.

For illustrative purposes only. Past performance is not indicative of future results.

XAU/USD's first resistance is at $3,500, followed by the technical $3,800 figure. In the event of a further pullback, the first support would be the $3,100 mark, followed by the November 2024 swing high of $2,760. A breach of the latter will expose the May 2024 high, which turned into support at $2,531.

Should the market resume the recent upside a potential price target could be the all-time-high at $3,400 and beyond. However, if the gold rate decreases in the coming days following the 3,250 support zone, the market might be on track towards the mentioned highs from end of 2024, which will indicate exhaustion and a potential downtrend. Lower levels should then be expected and might also be used for fresh entries into the market. 

Some traders use Fibonacci retracement as additional targets to fine tune their exit strategy. 

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Gold price predictions for 2025 from experts  

Many sources and experts provide gold forecasts and gold price predictions for 2025 based on different models, methods, and assumptions. Despite the average performance in 2024, many investment banks continue to maintain a bullish gold rate forecast for 2025 and the next 5 years. 

However, the central banks continue to bolster their gold reserves, highlighting the enduring appeal of the precious metal. In the following sections, we will discuss the gold forecasts and price predictions from some of the most reputable and influential sources and experts. Please note that most forecasts from earlier this year have already been met with still several months to go in 2025: 

• The World Bank predicts an average gold price of $2,050 in 2025.
• Goldman Sachs upgraded their gold price forecast to $3,000 per ounce by the year-end.
• Morgan Stanley predicts Gold Prices to Soar to $2,700 by Q1 2025
• JPMorgan Chase & Co. predicts the gold price to reach $2,850 per ounce in Q4 2025.
• Deutsche Bank forecasts an average gold price of $ 2,725 in 2025
• Citigroup forecast gold prices to surpass $2,900
• UBS states a gold price of $2,700 by mid 2025
• Commerzbank raised its gold forecast to $2,900 by early 2025.
• ING forecast gold prices to reach $2,700 in 2025.
• TD Securities forecast gold prices to hit $2,700 in the first quarter of 2025.

The World Bank’s Gold Prediction 2025  

The World Bank, one of the key players among central banks and a global financial institution offering loans and grants to developing nations for various projects, recently forecasted an average gold price of $2,050 per ounce in 2025, a decrease from $2,350 per ounce in 2024. This updated 2025 gold price forecast is built on assumptions that the conflict in the Middle East is set to ease, whereas the heightened global uncertainty, with substantial implications to gold prices, might remain on the edge. “Although the initial impact has so far been moderate, potential chances that the FED will only continue to cut rates twice this year will cause opportunity cost to remain high for the shining metal, which would lead to a moderate risk appetite as well as lower consumer and investor confidence. These developments could lead to a decline in gold prices”.

The updated World Bank's gold price prediction 2025 states that “Prices are forecast to remain elevated but decline gradually to average around $2,050 an ounce in 2025 and $2,250 in 2026”. 

Goldman Sachs’s Gold Prediction 2025

Goldman Sachs noted that gold’s relative stability after several stronger-than-expected US CPI prints was yet another demonstration that the metal’s bull market is not being driven by the usual macro suspects. This, along with other factors, has led to Goldman Sachs' decision to raise its forecast for gold prices even further.

It’s seen that most of the gold upside since mid-2022 has been driven by new incremental (physical) factors, not least a significant acceleration in emerging markets Central Bank accumulation as well as Asian retail buying.  

Those factors remain well affirmed by current macro policy and geopolitics, according to Goldman Sachs. ETF inflows are expected to rise this year again after some time, though only some rate cuts are expected in 2025 the Bank believes that prices will rise again. Potential support might come from the uncertainty in regard to newly elected President Donald Trump in the US. Economic and rather protective policies might add to uncertainty and hence boost the price in gold. Central bank buying would also remain intact, which is acting as a support here. 

From the rebased price level, and with the firm seeing positive price factors still playing out ahead, they upgraded their gold price forecast to $3,700 per ounce by the year-end compared to the previous expectation of $3,100 per ounce.    

Morgan Stanley's Gold Rate Forecast 2025

Gold prices are set to remain at current levels according to Morgan Stanley. This rather sideways gold forecast comes as XAU/USD has already risen 50% from its 2022 lows and 25% since mid-February last year, positioning the precious metal for a strong finish last year. Profit taking and geopolitical uncertainty might also play a role here.

Morgan Stanley’s gold forecast underscores the complex dynamics at play in the gold market. Potentially slowing Central bank purchases, retail and institutional investment, and global economic factors are all contributing to the forecast for gold. As global turmoil continues and economic uncertainties persist, gold's role as a safe-haven asset is likely to remain in place with a price above $2,650 per ounce in the first quarter of 2025. The Bank updated their forecast, stating that post- tariffs gold prices will rise due to a weaker dollar.

JP Morgan’s Gold Rate Prediction 2025

With the recently strong bull case for gold now turning moderate, JPMorgan Chase & Co has adjusted its gold price prediction for 2025. Gold prices are forecasted to potentially climb to $3,000/oz by the end of 2025, according to J.P. Morgan Research estimates. Since the cutting cycle of the FED is in place but rather remains slow also the strength of the Dollar might play a role here.

According to JP Morgan, the direction of travel remains high in the coming quarters, forecasting an average price of $3,000/oz in the fourth quarter of 2025, with risk still skewed towards higher levels.

Gold price predictions are based on J.P. Morgan economic forecasts, which have U.S. core inflation moderating to 3.5% in 2024 and 2.6% in 2025. 

Deutsche Bank Gold Price Prediction 2025

Deutsche Bank, a German bank providing various banking and financial services to retail, private, and corporate clients, said that the current global economic situation will still cause gold prices to remain at high levels. Prices are set to remain at $ 2,600 per ounce in 2025 with the high being hit at $2,800 in December this year. Currently geopolitical tensions as well as uncertainty in the geopolitical landscape plays its role as a safe-haven asset.

In the scenario of a full tariff implementation, they expect in the first years of the of the presidential term inflation to increase, the FED to keep rates high and the USD to rally because monetary policy divergence and weakness elsewhere. This would also be in- line with recent statements of the US Central bank. They are going to rather cut rates twice this year as per their expectation.

Citigroup’s Gold Rate Prediction 2025

Citigroup forecasts that gold price is set to trade well over $3,300 per ounce due to significant expansion in financial flows.

The Bank is expecting that Central Bank purchases are going to remain solid and hence also drive prices. Furthermore, geopolitical uncertainties are expected to remain in place. As the labor market remains strong, the FED is not expected to rush in cutting rates. This in turn might cause setbacks for the economy and hence drive the safe- haven asset. The report attributes this bullish gold price prediction to the weakening US labor market, disinflation, and the Federal Reserve’s dovish pivot. The three-month outlook remains bullish and according to Reuters has been set to $2,900 as a base case.

UBS’s Gold Rate Forecast 2025

UBS has set its gold price forecasts, citing strong structural support and resilient demand for the yellow metal.

The investment bank now expects gold prices to rise to $3,200 in 2025. Mid of 2025 the bank had upgraded their prediction. Despite a long- term easing the robust outlook remains in place causing the precious metal to rise further.

Central bank buying and geopolitical uncertainties are likely to remain a key driver of prices. Also, setbacks in the economy might be a factor, which keeps driving prices to higher levels.  

UBS also said that the incoming US President is likely to cause the budget deficit to widen, which would act as a catalyst to widen the US fiscal deficit and hence could serve as a further catalyst for higher gold prices in the second half of 2025.

Commerzbank’s Gold Prediction 2025

Commerzbank has left the forecast for Gold to $2,600 per troy ounce by mid-2025. The bank states that they expect several rate cuts to drive the price of Gold as well as potential interest rate cuts. 

The bank forecasts the gold price to remain at $2,600 throughout this year. However, prices are expected to rise beyond those levels towards the end of 2025. Prices are expected to move by sustained Central bank buying as well as economic uncertainties. 

ING’s Gold Rate Forecast 2025 

The Dutch bank believes that the Fed will continue to cut rates, which will drive gold to new highs. The incoming US President will also continue to add to gold's upward momentum through to the end of the year.

Geopolitics will also remain one of the key factors driving gold prices in their view. The war in Ukraine and the Middle East and tensions between the US and China suggest that safe-haven demand will continue to support gold prices in the short to medium term. Central banks are also expected to keep adding to their holdings, which had also been the case throughout 2024. Regardless of the political outcome of several elections the bank believes that prices will rather be driven by rate cuts and the war in the Ukraine. 

They now forecast gold averaging $2,800 in the second half of 2025 The upward momentum will continue also based on recent forecasts from 2025. 

TD Securities' Gold Price Prediction 2025

TD Securities forecast remains the same. They still believe that the price will show an average of $ 2,700 per ounce in 2025. Higher inflation, with the incoming President in the US, Donald Trump, is expected to drive prices. Furthermore, also continued Central Bank buying is not expected to slow demand. Geopolitical factors such as the tensions with China and Iran will also play a role. Gold in general is being seen as positive this year. 

Other Gold price predictions for 2025 (AI-Based) 

Although there is still potential for the price of the precious metal to decline after reaching all-time-highs recently, agencies and AI-based websites are still optimistic that prices would offer potential to rise towards $3,300 per ounce by the end of this year as Google’s Gemini predicts for example.

Gold price prediction for the next 5 years 

Though it is hard to say for sure for such a long period of time, experts from different resources concur that gold will continue rising. However, they have opposite opinions about the speed of this growth. The recent momentum from 2024 might lead to a slowdown, which occurs in most strong trends over time.

What is the gold price prediction for the next 5 years? See below the forecaster's projections for gold prices in the 5 years approximately.   

*It is worth keeping in mind that both analysts and online forecasting sites can and do get their predictions wrong. Keep in mind that past performance and forecasts are not reliable indicators of future returns. 

When considering gold price predictions for 2025 and beyond, it’s important to keep in mind that high market volatility and the macroeconomic environment make it difficult to produce accurate long-term gold analysis and estimates. As such, analysts and forecasters can get their gold forecast wrong.   

What moves the price of gold in the future?

Unlike almost any other asset, gold is typically neither a safety nor a risk asset, though the popular financial media have often called it both over the years (depending on how gold has been performing in recent months). Instead, it’s a currency hedge for which demand rises when there are concerns about inflation diluting the purchasing power of fiat currencies (particularly those most widely held, like the USD and EUR). In other words: 

1. In times of optimism (aka risk appetite), gold can either appreciate if markets believe growth will lead to inflation, or it can fall if the desire for higher yields overrides inflation concerns and investors move into more classic risk assets which they believe will provide better returns.
2. In times of pessimism (aka risk aversion), gold can either rise if markets believe that stalling growth will lead to rising deficits and/or money printing that could cause inflation, or it can also fall on fears of deflation or a market crash that feeds demand for cash. In times of panic, traders seek cash either to cover margin calls or other obligations or to be ready to go bargain hunting.    
   
   If pessimism turns to panic, then gold could either:    
   – rise if markets are more concerned about the USD or EUR losing their purchasing power than about near-term liquidity needs, as was the case at times from 2009 through 2011.    
   – fall if markets are more concerned about liquidity than the loss of purchasing power, as was the case in late 2011. 

When markets are not concerned about fading purchasing power, the major currencies tend to gain against gold. That can happen due to: 

• Low inflation expectations, as we saw starting in late 2011. Concerns about the global economy kept inflation fears low, and so gold began a multi-month downtrend. 
• Panic periods are when markets fear a financial crisis, and liquidity becomes the top priority. We saw gold sell-off during times of peak anxiety about the US or EU. During these periods, investors tend to sell gold to raise cash. 

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How has the price of Gold changed over time? 

Below is a Gold chart that shows how the price of gold changed over the past ten years. In order to make your predictions and forecasts as accurate as possible, it’s important to look back at such historical data.   

For illustrative purposes only. Past performance is not indicative of future results

One of the biggest drivers of gold is currency values. Because gold is denominated in dollars, USD can have a significant impact on the price of gold. A weaker dollar makes gold relatively less expensive for foreign buyers and may lift prices. On the other hand, a stronger dollar makes gold relatively more expensive for foreign buyers, thus possibly lowering prices.

Gold Price in 2019

The price at the beginning of 2019 was $1,413.75. Though it fell insignificantly in April to $1,353.26, it continued going up till August and became $1,601.35. However, in November, the price lowered to $1,524.80. The reason for this was the falling gold demand in India. Actually, it fell to its lowest level in three years. The World Gold Council (WGC) explained that this was due to domestic prices climbing to a record against a backdrop of falling earnings in rural areas.

Gold Price in 2020

The price was able to recover and rose up to $2,063.56 in August 2020. This peak hasn’t been reached again yet. The coronavirus pandemic and the unprecedented flow of money supply by government stimulus triggered sharp buying in the bullion metal in both domestic and global markets in 2020. 

The price didn’t manage to maintain this high and fell to $1,840.38 in November 2020. Pfizer was the main reason. The US-based pharmaceutical corporation announced the COVID-19 vaccine news. They made a surprising announcement regarding the status of their coronavirus vaccine trial.

Gold Price in 2021

The price managed to recover a little bit, but that didn’t save it from another fall in March 2021 - it fell to $1,742.68 as the dollar strengthened after the jump in US private-sector jobs. “Gold looked as if it was topping out,” Ross Norman, Chief Executive Officer at Metals Daily, said. “Some profit-taking exacerbated the decline, and gold will rebuild from here.” He was right - in May 2021, the price became $1,904.76. Little did he know that the price would again go down, reaching $1,771.60 because of problems with the coronavirus in India. 

There were no sharp ups or downs during summer. The first month of Fall 2021 ended with a price decline to $1,726.11 per ounce. The next seven weeks showed a strong recovery – up to $1,866.96. This happened due to the investor's rush into safe-haven assets. A stronger dollar and the Fed policy led to the following sharp decline. However, the situation changed in December when the bulls took the trend. 

Gold Price in 2022

Between the end of January 2022 and the 8th of March 2022, gold had a 16% gain, trying to surpass its previous record high of $2075 per ounce set in August 2020 because of the conflict in Ukraine that increased geopolitical tensions and market risk aversion. 

Midway through March 2022, the Fed announced its first interest rate increase of the year, and gold started to flex lower. The downward trend in gold prices continued through the summer and into Q3 when Fed Chair Jerome Powell quickened the pace of rises.  Amid a dollar rally and rising Treasury yields, gold plummeted 22% from its March highs to September lows at 1,615/oz. 

After reaching a so-called technical "triple bottom" in the months of September, October, and November, gold started to rise by 12% by the end of December. 

Overall, gold's performance in 2022 was inconsistent when compared to that of other important metals. Copper (-14%) and palladium (-4.2%) were outperformed by the yellow metal, but they lagged silver (+4.5%) and platinum (+4.6%). 

Gold Price in 2023

May 2023 saw gold prices rise to almost record levels, with a peak at $2,067, a level not seen since March 2022. The ongoing talks over the US debt ceiling served as fuel for the most recent spike. The US economy could run out of cash as early as the beginning of June, according to Janet Yellen, the Treasury Secretary.

However, prices have fallen more than 11% from their May highs above $2,000 an ounce as the FED's hawkish outlook has pushed long-term bond yields to their highest level in 16 years.

After wild swings, gold showed a strong rebound in Q4 2023 and hit an all-time high, amid geopolitical conflicts and economic uncertainty.  

Gold Price in 2024

The precious metal has been on an impressive bull run since the start of 2024, with its value reaching new record highs multiple times so far that year. This trend began in early March, with gold prices surging to $2,160 per ounce, up 8% compared to the previous record in December 2023. 

That record was quickly surpassed by subsequent peaks in April, May, August, to hit an all-time-high of 2.790$ per ounce in October last year. With the latest milestone, gold was up more than 25,5% since the start of the year an even outperformed the strong momentum in the S&P500.

Conclusion: Is Gold a good investment for 2026 and beyond? 

Drawing from these expert insights, they anticipate a slight uptick in gold prices also this year in general. The average cost could hover around $3,400 per ounce by year’s end. However, it’s crucial to note that this remains a forecast. Things can change, and there’s always a level of uncertainty.  

For potential gold investors, experts from Morgan Stanley, among others, recommend some gold in a well-balanced, conservative portfolio to protect against inflation diluting the purchasing power of fiat currencies and geopolitical factors. But before you invest in gold, do your homework. Understand the risks and costs of buying and selling gold. And keep a close eye on market trends and conditions. 

To sum up: experts can make educated gold forecasts and price predictions, but as with any investment, there's no 100% guarantee. 

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Sources:

• https://www.gold.org/goldhub/research/gold-outlook-2024   
• https://www.blackrock.com/corporate/literature/whitepaper/bii-global-outlook-in-charts.pdf   
• https://www.wisdomtree.eu/-/media/eu-media-files/other-documents/research/market-outlook/wisdomtree-gold-outlook-q2-2024.pdf   
• https://www.jpmorgan.com/insights/global-research/commodities/gold-prices   
• https://www.franklintempleton.com/forms-literature/download/132-QCPLT  
• https://www.forexlive.com/news/ubs-sees-gold-extending-gains-into-2025-forecasts-2900oz-price-target-20241218