Gold Price Now: USD $2,313.76 -0.66 -0.03%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | +0.45% | +0.79% | -2.28% | -0.89% | -1.27% |
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: May 23, 2024
Gold Forecast Short Term
Bearish
Price Drivers for next 6 weeks:
Dollar, cycle lows, Federal Reserve policy
Gold Forecast 1 Year
Bullish: $2850
Medium-term price drivers:
US dollar, bear market in stocks and recession, weak investor sentiment
Gold Forecast 3 Years
Bullish: $3550
Long-term price drivers:
US dollar, US budget deficits, central bank monetary debasem*nt, negative real interest rates, and the potential for an uptick in sovereign buying.
Featured Gold Price Forecasts
Gold Forecast: Gold Cycles Were Correct! Key Update
By Jim Curry Chief Analyst & Editor @ Goldwavetrader - June 9, 2024
From comments made in my articles in past months, Gold had formed a key bottom back in mid-February - and with that was projected higher into mid-April of this year, or later. From there, a correction was favored to play out into the late-May to early-June window, where the next bottom of significance is now due to form.
Gold's Dominant 72-Day Cycle
The 72-day cycle is currently the most dominant cycle in the Gold market. This wave saw a mid-February bottom giving way to a sharp rally - one that was not projected to peak prior to April 9th of this year.
Shown again is that 72-day cycle component:
Following a peak on April 12th, the downward phase of this 72-day cycle began to assert itself, with the metal dropping some 6.6% into early-May. From there, however, a push back to a minor new high was seen into May 27th - though that rally was not able to take out the April peak on a closing basis.
With the above said and noted, our overall assessment remained intact, which called for a 72-...
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Gold Forecast: Our Cycle Work Supports a Bottom Next Week
By AG Thorson Technical Analysis Expert & Editor @ GoldPredict.com - June 7, 2024
Metals and miners are dropping into June intermediate lows, and our work supports a bottom next week.
Once gold bases, we expect a powerful rally that could push prices toward $2800 by mid-August.
The potential in silver is striking; after prices bottom (next week), we see the potential for an epic run towards $40.00.
Technical Update
GOLD DAILY- The decline into a cycle low is never straightforward; there are often twists and turns. Gold almost always (90% of the time) closes at least once below the 50-day EMA before reaching a bottom. That has yet to happen, so I'm still looking for one more drop.
SILVER- Silver formed a swing low after tagging the upper boundary of the target box. The odds still favor a dip below the 50-day EMA with ideal support between $28.00 and $29.00.
PLATINUM- Platinum pulled back precisely to support at the 50-...
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More Gold Price Forecasts
Gold Forecast: Gold Nearing Key Countertrend Low
By Jim Curry Chief Analyst & Editor @ Goldwavetrader-May 26, 2024
From the comments made in recent months, Gold's upward phase was favored to hold up into the mid-April timeframe, before turning south into a (countertrend) correction low, made into late-May to early-June. With the most recent decline in the metal, we are moving...
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By Christopher Aaron Chief Analyst & Founder @ iGold Advisor-May 8, 2024
There is a secret tool available to investors who are attempting to identify winning silver and gold mining companies. Indeed, it makes a tremendous difference which mining companies investors choose: consider that from 2005 – 2011, as silver bullion rose 500%,...
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Gold Forecast: The Bull Run in Gold Miners is Just Starting
By AG Thorson Technical Analysis Expert & Editor @ GoldPredict.com-April 26, 2024
After years of going nowhere, gold launched into the next stage of its bull market.While inexperienced investors might feel inclined to capitalize on recent profits, such a move could prove detrimental in the long run. Gold and silver miners have underperformed the...
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Gold Forecast: Prices to Challenge $2500 After a Brief Pause
By AG Thorson Technical Analysis Expert & Editor @ GoldPredict.com-April 19, 2024
Metals and miners are taking a breather after explosive gains. More upside is expected before the next cyclelow, which isdue in June.Last Friday’s price action was wild, with gold swinging $100 and silver $2.00 in a 4-hour window. As the bull market matures, I...
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Gold Forecast: Cycles Move Into Topping Range
By Jim Curry Chief Analyst & Editor @ Goldwavetrader-April 14, 2024
From my last article posted in late-March, Gold was in the midst of a larger uptrend, which was expected to hold up into the early-to-mid April timeframe. With that, we are now in the range for a correction for the yellow metal, though one favored to end up as a...
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Gold Forecast: A Runaway Move Could Push Gold Towards $3000 by August
By AG Thorson Technical Analysis Expert & Editor @ GoldPredict.com-April 12, 2024
We are entering the recognition phase of the gold bull market where pullbacks become brief and infrequent. Many investors will be left behind. Silver is gaining traction, and prices could explode to the upside if they manage to push through $30.00 next week. Gold...
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By AG Thorson Technical Analysis Expert & Editor @ GoldPredict.com-April 5, 2024
Gold is in the beginning stages of a new bull market that should last into the 2030s. The last breakout of this magnitude was in 2005, which triggered a 6-year bull run. By 2030, we see gold hitting our longer-term price target between $8000 to $10,000.
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Gold Forecast: Surfing the Extreme Sentiment Waves in Gold
By P. Radomski CFA, Editor & Founder @ Sunshine Profits-April 3, 2024
Gold is rallying regardless of what’s happening in other markets, and while there are signs of a top, gold appears to simply not care about them at the moment.
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Gold Forecast: Gold Cycles Higher, Key Peak Forming
By Jim Curry Chief Analyst & Editor @ Goldwavetrader-March 31, 2024
From my prior article from mid-March, Gold had broken out to the upside - but was in the midst of a smaller-degree dip, a move expected to end up as countertrend. This was the case, with the metal having broken on back to higher highs for the swing, as favored....
Read More »
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.
