Gold Price Prediction & Long-term Forecast

Gold — is the oldest financial asset. Over the millennia, it has lost neither its popularity nor its purchasing power. The price of an ounce covers the same set of goods as before Christ.

Month
1 year
3 years

Key Findings

Key information about the gold price forecast is summarized below:

Price Today

2083$

Price for next year 2024

1991.53$

Long-term price 2025-2030

2174.28$

The price of gold is largely determined by the balance of supply and demand. But market expectations of a recession are making serious adjustments. The best time to invest in this metal is during periods of economic growth.

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Gold Price History Chart

Key dates

2008 year

Financial crises are accompanied by falling asset values as investors need liquidity. Over 7 months the gold price fell by 29.5%. Only in November 2008 the global economy adapted to the situation and the demand for metal increased. In just 3 months quotations returned to the level of early January 2008.

+2.8%

2018-2020 year

Gold prices remained in a strong uptrend. In many respects, monetary policy contributed to the achievement of the historical maximum. It was aimed at overcoming the economic crisis. Most central banks reduced the rate to historic lows.

+44.3%

2022 year

Against the backdrop of the political crisis, the quotations of most assets collapsed. For more than half a year, the price declined, eventually losing more than 15%. Yet, the recovery to the previous values was even more rapid.

+24.6%

Gold outlook for today

Growth

The quotations of the asset are now growing. The situation in the domestic and global market pushes the gold price upwards. Investors are inclined to buy the precious metal as they see it as a safe haven asset against a weaker dollar.

As long as the expectations of market participants do not change, the outlook for gold prices will remain positive for a long period of time. Therefore, at the present moment it looks like a strong asset. All indicators prove that it is reasonable to buy.

Minimum forecast cost

1930.58 USD

Maximum Forecast Value

2133.79 USD

% value change

-0%

Technical gold analysis

gold bars

For predicting gold prices using technical analysis, traders look at the following factors and tools:

  • Current market trends and sentiment;
  • trend indicators (e.g. Bollinger Bands or standard deviation);
  • oscillators (Relative Strength Index, MACD level, etc.);
  • moving averages;
  • pivot points.

Below is an overview of these most popular technical analysis tools. The recommendations to buy or sell gold are based on them.

Market trend

Sell

Market Sentiment

Buy: 68.6%

Sell: 31.4%

Neutral: 0%

Buy

Trend Indicators

Header Sell Neutral Buy Action
Moving Averages

50%

-

50%

Neutral
Momentum Oscillators

50%

33%

17%

Neutral
Trend Oscillators

33%

34%

33%

Neutral
Volatility

100%

-

-

Strong Sell

Oscillators

Name Value Action
RSI(14)

50.448

Neutral
STOCH(9,6)

37.979

Sell
STOCHRSI(14)

0.000

Overbought
Williams %R

-64.181

Sell
CCI(14)

-47.9908

Neutral
ROC

3.494

Buy
Ultimate Oscillator

45.620

Sell

Moving Averages

Period Simple Exponential
MA5

MA5

2032.65

MA10

MA10

2030.55

MA20

MA20

2015.75

MA50

MA50

1967.65

MA100

MA100

1921.79

MA200

MA200

1814.76

Pivot Points

Pivot Classic Fibonacci Camarilla Woodie's DeMark's
S3 1995.40 2013.10 2030.31 1992.96 -
S2 2013.10 2024.75 2033.11 2011.88 -
S1 2025.90 2031.95 2035.90 2023.46 2019.50
Pivot Points 2043.60 2043.60 2043.60 2042.38 2040.40
R1 2056.40 2055.25 2041.50 2053.96 2050.00
R2 2074.10 2062.45 2044.29 2072.88 -
R3 2086.90 2074.10 2047.09 2084.46 -

Gold price outlook for the coming week: day by day

The forecast for the next week is a decline in quotations. Bearish expectations for gold are caused by a complex of negative factors. Among them is investors' desire to fix profits amid the decline in quotations. The traders' willingness to enter risky assets to increase profitability plays an important role.

Weakening of the American dollar or decrease of interest rates could reverse this trend. But such events are hardly to be expected.

Date Min forecast price Max forecast price Change
14.02.2024 1880 USD 2078 USD -104 USD (-5.26%)
15.02.2024 1875 USD 2073 USD -5 USD (-0.25%)
16.02.2024 1865 USD 2061 USD -11 USD (-0.56%)
19.02.2024 1864 USD 2060 USD -1 USD (-0.05%)
20.02.2024 1862 USD 2058 USD -2 USD (-0.1%)
21.02.2024 1872 USD 2069 USD +10.5 USD (0.53%)
22.02.2024 1857 USD 2053 USD -15.5 USD (-0.79%)
23.02.2024 1844 USD 2038 USD -14 USD (-0.72%)
26.02.2024 1857 USD 2053 USD +14 USD (0.72%)
27.02.2024 1859 USD 2055 USD +2 USD (0.1%)
28.02.2024 1880 USD 2078 USD +22 USD (1.11%)
29.02.2024 1893 USD 2093 USD +14 USD (0.7%)
01.03.2024 1891 USD 2090 USD -2.5 USD (-0.13%)
04.03.2024 1897 USD 2097 USD +6.5 USD (0.33%)
05.03.2024 1882 USD 2080 USD -16 USD (-0.81%)
06.03.2024 1889 USD 2087 USD +7 USD (0.35%)
07.03.2024 1880 USD 2078 USD -9 USD (-0.45%)
08.03.2024 1887 USD 2085 USD +7 USD (0.35%)
11.03.2024 1902 USD 2102 USD +16 USD (0.8%)
12.03.2024 1880 USD 2078 USD -23 USD (-1.16%)
13.03.2024 1855 USD 2051 USD -26 USD (-1.33%)
14.03.2024 1860 USD 2056 USD +5 USD (0.26%)
15.03.2024 1879 USD 2077 USD +20 USD (1.01%)
18.03.2024 1882 USD 2080 USD +3 USD (0.15%)

Gold Price Predictions for Next 5 years

Analysts do not expect gold prices to show a clear trend over the next 5 years. Short-term price increases are possible. But it is doubtful that they will lead to another significant update of the historical maximum. There are some prerequisites for this, but there are also enough limiting factors.

Periodic drawdowns are also likely. They are forecast to be redeemed quickly and will not lead to a bear market. This will not be allowed to happen:

  • inflation;
  • market interest in hard assets;
  • growing demand for metal from industry and the jewelry industry.

The most likely scenario is fluctuations in quotes within the corridor of +/- 5-10%. With such expectations, it is not advisable to increase positions with an average investment horizon. This may only be profitable over decades.

Date Min forecast price Max forecast price Change
01.12.2024 2034.440 USD 2045.651 USD -42.96 USD (-2.11%)
01.12.2025 2087.664 USD 2098.986 USD +53.28 USD (2.55%)
01.12.2026 2140.880 USD 2151.553 USD +52.89 USD (2.46%)
01.12.2027 2194.034 USD 2204.160 USD +52.88 USD (2.4%)
01.12.2028 2247.211 USD 2255.607 USD +52.31 USD (2.32%)
01.02.2029 2285.815 USD 2289.462 USD +36.23 USD (1.58%)

Gold price forecast for 2024

In 2024, the gold market will face a correction. Experts predict a steady decline in prices by the end of the year. Perhaps this period will be proper to build up positions. Yet, much will depend on the monetary policy of the Federal Reserve System.

Date Min forecast price Max forecast price Change
01.04.2024 2032.889 USD 2039.208 USD -46.96 USD (-2.31%)
01.05.2024 2027.373 USD 2033.105 USD -5.81 USD (-0.29%)
01.06.2024 2021.210 USD 2034.048 USD -2.61 USD (-0.13%)
01.07.2024 2017.969 USD 2042.001 USD +2.36 USD (0.12%)
01.08.2024 2042.867 USD 2062.472 USD +22.68 USD (1.11%)
01.09.2024 2037.927 USD 2063.678 USD -1.87 USD (-0.09%)
01.10.2024 2036.963 USD 2045.124 USD -9.76 USD (-0.48%)
01.11.2024 2040.179 USD 2042.869 USD +0.48 USD (0.02%)
01.12.2024 2034.440 USD 2045.651 USD -1.48 USD (-0.07%)

Gold price forecast for 2025

Experts predict that gold prices will not show a clear trend in 2025. They will be influenced by several multidirectional factors. The struggle between bears and bulls is expected in a narrow price corridor. And the main focus of traders will be on other assets.

Date Min forecast price Max forecast price Change
01.01.2025 2047.640 USD 2072.706 USD -22.83 USD (-1.11%)
01.02.2025 2074.035 USD 2084.284 USD +18.99 USD (0.91%)
01.03.2025 2081.285 USD 2085.329 USD +4.15 USD (0.2%)
01.04.2025 2085.623 USD 2092.353 USD +5.68 USD (0.27%)
01.05.2025 2080.611 USD 2086.181 USD -5.59 USD (-0.27%)
01.06.2025 2073.284 USD 2087.020 USD -3.24 USD (-0.16%)
01.07.2025 2070.962 USD 2094.640 USD +2.65 USD (0.13%)
01.08.2025 2095.556 USD 2115.071 USD +22.51 USD (1.07%)
01.09.2025 2090.926 USD 2116.846 USD -1.43 USD (-0.07%)
01.10.2025 2090.144 USD 2098.127 USD -9.75 USD (-0.47%)
01.11.2025 2093.303 USD 2096.064 USD +0.55 USD (0.03%)
01.12.2025 2087.664 USD 2098.986 USD -1.36 USD (-0.06%)

Gold price forecast for 2026

The outlook for gold for 2026 is stable. This period will not contribute to the gold rally. Quotes are unlikely to show significant fluctuations. They will be determined by short-term investor sentiment. Therefore, we should not expect a long and pronounced trend.

Date Min forecast price Max forecast price Change
01.01.2026 2100.196 USD 2125.379 USD +29.78 USD (1.41%)
01.02.2026 2126.638 USD 2137.259 USD +19.16 USD (0.9%)
01.03.2026 2134.467 USD 2138.069 USD +4.32 USD (0.2%)
01.04.2026 2139.170 USD 2145.389 USD +6.01 USD (0.28%)
01.05.2026 2133.785 USD 2139.294 USD -5.74 USD (-0.27%)
01.06.2026 2126.314 USD 2140.079 USD -3.34 USD (-0.16%)
01.07.2026 2123.986 USD 2147.314 USD +2.45 USD (0.11%)
01.08.2026 2150.588 USD 2169.030 USD +24.16 USD (1.12%)
01.09.2026 2144.746 USD 2169.847 USD -2.51 USD (-0.12%)
01.10.2026 2143.266 USD 2151.007 USD -10.16 USD (-0.47%)
01.11.2026 2146.511 USD 2149.163 USD +0.7 USD (0.03%)
01.12.2026 2140.880 USD 2151.553 USD -1.62 USD (-0.08%)

Gold price forecast for 2027

At the end of the five-year cycle, experts forecast a wave of growth in gold quotations. Such optimism is due to:

  • expectations of strengthening industrial demand;
  • planned termination of the key rate hike cycle;
  • persistence of inflation risks.

Quotes will be supported by the build-up of the U.S. government debt and related concerns.

Date Min forecast price Max forecast price Change
01.01.2027 2152.791 USD 2178.070 USD +82.43 USD (3.81%)
01.02.2027 2179.273 USD 2190.162 USD +19.29 USD (0.88%)
01.03.2027 2187.710 USD 2191.622 USD +4.95 USD (0.23%)
01.04.2027 2191.949 USD 2198.318 USD +5.47 USD (0.25%)
01.05.2027 2186.961 USD 2191.766 USD -5.77 USD (-0.26%)
01.06.2027 2180.161 USD 2193.419 USD -2.57 USD (-0.12%)
01.07.2027 2177.185 USD 2198.994 USD +1.3 USD (0.06%)
01.08.2027 2202.460 USD 2221.816 USD +24.05 USD (1.09%)
01.09.2027 2197.804 USD 2222.719 USD -1.88 USD (-0.08%)
01.10.2027 2196.226 USD 2204.318 USD -9.99 USD (-0.45%)
01.11.2027 2199.723 USD 2202.550 USD +0.86 USD (0.04%)
01.12.2027 2194.034 USD 2204.160 USD -2.04 USD (-0.09%)

Gold price forecast for 2028

Date Min forecast price Max forecast price Change
01.01.2028 2208.583 USD 2231.936 USD +137.26 USD (6.18%)
01.02.2028 2232.051 USD 2243.485 USD +17.51 USD (0.78%)
01.03.2028 2240.866 USD 2244.767 USD +5.05 USD (0.23%)
01.04.2028 2246.577 USD 2251.504 USD +6.22 USD (0.28%)
01.05.2028 2239.951 USD 2245.455 USD -6.34 USD (-0.28%)
01.06.2028 2232.434 USD 2246.650 USD -3.16 USD (-0.14%)
01.07.2028 2230.435 USD 2254.249 USD +2.8 USD (0.12%)
01.08.2028 2255.072 USD 2275.539 USD +22.96 USD (1.01%)
01.09.2028 2250.909 USD 2275.926 USD -1.89 USD (-0.08%)
01.10.2028 2249.369 USD 2257.624 USD -9.92 USD (-0.44%)
01.11.2028 2252.897 USD 2255.697 USD +0.8 USD (0.04%)
01.12.2028 2247.211 USD 2255.607 USD -2.89 USD (-0.13%)

Long Term Gold Forecast From 2024 to 2029

Gold forecasts for the next 10 years

Ten years is a sufficient period of time to expect an unconditional growth of quotations. During this period, there may be intervals when gold will become cheaper. But these losses will be noticeable only at a certain moment. At the end of the decade, a positive result is expected.

There are forecasts that gold production will begin to decline from 2028. This will be an important factor for the quotations growth in the second half of the decade. But the main driver, which cannot be doubted, is the increase in money supply.

There is no reason to believe that the leading countries will reconsider their approach to issuance. Besides, constant inflation is an integral part of a functioning financial system. As long as gold is seen as a defense against it, the quotations of the asset are growing.

Gold price forecast for 2030

Experts give different forecasts for the price of gold for 2030. The most optimistic of them is a level close to $7000 per ounce. Others are more cautious and give less impressive figures.

But all factors point to the fact that in 2030 quotes will be significantly higher than the current ones. As already mentioned, the expected reduction in production will have a strong effect. Other factors will also push prices upwards:

  • speculative activity of investors;
  • uncertainty on stock markets;
  • depreciation of world currencies.

There is a probability that another crisis will occur in 2030. It will collapse quotations of all assets. But it is unlikely to affect gold in such a way that it will be cheaper than the current levels.

Gold price forecast for 2040

By 2040, experts predict even greater growth in quotations. The main drivers are all the same reasons:

  • growth of the U.S. government debt;
  • investors' desire for more solid assets than the US dollar;
  • inflationary pressure;
  • decline in production and proven reserves.

On such long horizons, it's hard to predict exact numbers. But analysts agree the long-term trend will be upward. The only difference is the forecasts on the rate of increase in quotations.

The price in such forecasts is at the level of:

  • minimum - $2.5 th;
  • average - more than $16 thousand;
  • maximum - $40.5 thousand.

The question is not whether gold prices are expected to grow. It is whether this growth will be strong enough. Or, despite the increase in quotations, there will be more profitable assets.

Gold Price Forecast 2050

In the long term, all analysts expect gold prices to rise. Even the most modest forecasts promise five-digit sums. More optimistic ones promise a 10+ fold price hike. The maximum figure, mentioned by experts, is $52 thousand.

A long period of quotation stagnation is possible on the metals market. Despite this, the results on a long horizon are impressive:

  • over the 10 years from 2012 to 2022, the average annual price of an ounce increased by less than 10% ;
  • over the period from 1972 to 2022, gold rose in price 31 times;
  • between 1922 and 2022. - 87 times.

Past performance cannot be a guarantee of future returns. But the factors that pushed prices up earlier are still significant.

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Factors affecting the gold price

Inflation

Buying gold to preserve capital is popular investment advice. But in the long run, the correlation between inflation and the price of an ounce is weak. Quotes rise when high inflation is combined with distrust in the market. During economic upturns, gold is an unattractive investment. Even when these times are accompanied by high inflation.

Currency fluctuations

There is a long-term inverse correlation between gold prices and the DXY index. When the dollar falls relative to the rest of the world's currencies, US domestic prices rise. This is true for both consumer goods and exchange traded goods.

With a strong dollar, there is pressure on the quotations of the yellow metal. In such periods, investors are less interested in buying it.

Geopolitical uncertainty

Many traders perceive gold as a protective asset. During periods of aggravation of the geopolitical situation, there is an increasing interest in it. Investors seek to shift capital from paper assets to real ones.

Interest rates

When bond yields rise, gold prices will be in a downtrend. At best, a sideways trend is possible. This is due to the fact that the metal does not bring passive income. At high interest rates, risk-free investments ( treasuries) are preferable. During the period of low interest rates, investment demand for gold increases. This means its price is also increasing.

Supply constraints

The gold production level is a fairly constant value. It is not possible to increase it quickly. Demand can change almost instantly.

The main influence is exerted by the Central Banks of different countries, IMF, large mutual funds. Many countries are striving for dedollarization and building up gold reserves. This will push the price of an ounce upwards in the coming years.

Is gold a good investment

Short-term

(1-6 month)

At the moment, the quotations are under pressure. Investors prefer more profitable assets. Demand for gold is falling. Therefore, we should expect further price decline in the coming months. It is risky to open a position for a short period of time.

Medium-term

(6-12 month)

The current situation puts pressure on gold quotes. The growth of key rates reduces investor interest in the asset. Also, there are concerns about the expectations of recession and a decrease in industrial demand. On the horizon of 6-12 months the ounce price chart may go sideways. A bearish scenario is not excluded.

Long-term

(1 year+)

Gold is always considered a proper asset for long-term investments. The longer the investment period, the higher the final return. Currently, the price has decreased relative to the historical maximum. This makes it a proper time to build up positions. Fundamental factors indicate that strengthening of bulls is expected.

FAQ

Is it worth buying gold now to sell in 2025?

Such an investment will be reasonable if the rising rate cycle is quickly completed. Experts believe that the price will increase by 1.5-4 times. The most negative forecasts promise to keep quotations at the current level. Therefore, there is no reason to believe that investing in gold will be unprofitable. But it can bring less income than some other stocks.

How will the ounce price change in the second half of 2023?

In the second half of 2023, quotations will move sideways. They are under the pressure of negative factors. If bond yields continue to rise, a bearish trend may be formed. The rate's growth is counteracted by the demand for gold from institutional investors. If geopolitical tension intensifies, a bullish reversal is expected. It can lead to the renewal of historical highs.

How profitable will gold investments be in the next 5 years?

Experts differ greatly in their forecasts. In a negative scenario, investors will earn 5-10% at the end of 5 years. The most optimistic options guarantee a profit of 700-800%. The most probable scenario is a moderate one with a return of 20-25% per annum. One should also be aware of volatility. There is a high chance that quotations will peak in 2026-2027. This will be followed by a bearish market phase.

How do you realize that investing in gold at the moment is advisable?

It all depends on the investment horizon. When it comes to decades, the best option is the dollar averaging strategy. It does not involve any attempts to guess the best entry point. You should make purchases at regular intervals. With short horizons, it is advisable to consider the technical indicators. Investors' expectations about the stock market also play an important role.

Can gold depreciate completely?

The probability of such an event happening is negligible. There is industrial demand for gold. It is also in demand by jewelers. For this metal to cease to be valued, a complete restructuring of human society is necessary. It is possible that the price will remain at the same level for a long time. For example, from 2012 to 2022, quotations did not update the historical maximum.

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