A forecast for the gold price entails a comprehensive assessment of economic, political, and financial factors, as well as market trends, within the context of anticipated events and macroeconomic conditions.
What are the prospects for gold in 2025? In light of the forthcoming central bank meetings, how will potential interest rate shifts impact the value of gold? Will gold retain its status as a safe-haven asset as the geopolitical turmoil increases? This article examines the historical data, professional analytical assessments, and present scenarios for the 2025–2026 gold exchange rate and the long-term outlook.
The article covers the following subjects:
Major Takeaways
- The current price of gold is $2 628.66 as of 23.12.2024.
- Gold reached its all-time high of $2790.02 on 2024-10-31. Gold’s all-time low of $252.55 was recorded on 1999-08-25.
- Analytical firms anticipate an increase in gold prices in 2024. Analysts suggest that the price of gold will range between $2,421 and $2,651. Conservative predictions estimate that the price of gold (XAUUSD) will trade in the range of $2,000–$2,133. Some analysts believe that gold quotes may reach up to $2,750-$2,810 per ounce due to high market volatility and growing demand for safe-haven assets.
- According to the updated LongForecast prediction, the gold price is projected to reach $3,150 in 2025. By the end of the year, the rate will likely stand in the range of $3,150–$3,356.
- In 2026, gold will likely face elevated volatility. According to Gov Capital, the precious metal will fluctuate widely between $3,440 and $4,907. The value will remain susceptible to geopolitical unrest and adjustments to central banks’ monetary policy.
- Analysts at Coin Price Forecast project that by 2030, gold will maintain its status as a primary safe-haven asset, potentially reaching $5,085. The long-term average annual growth is estimated at approximately 7%.
- Analysts offer a range of forecasts, from conservative estimates to highly optimistic projections, which confirms the bullish outlook for gold over the coming years. The primary factors influencing price movements are interest rates, supply and demand in the global market, geopolitical tensions, and currency depreciation in the context of rising inflation and instability in developed countries.
- XAUUSD: Based on technical analysis, gold reached its first bearish target near 2631 within the medium-term downtrend last week. The next target is near 2536.
Gold Real-Time Market Status
Gold is trading at $2 628.66 as of 23.12.2024.
It is essential to pay close attention to the following key indicators to gain a clear insight into the current state of the gold market:
- Market sentiment is an indicator of the prevailing mood among market participants, which can be classified as either optimistic (bullish) or pessimistic (bearish). It helps to predict possible price movements.
- The trading volume refers to the number of trades made during a certain period. High volume confirms the trend, while low volume signals weak demand for the asset.
- Analyzing price changes over the last 12 months provides insight into long-term trends and volatility. Growth over the year may indicate the continuation of an upward trend.
- The geopolitical and economic situation, including global crises, inflation, and interest rate changes, can impact the demand for gold as a safe-haven asset.
Gold weekly price forecast as of 23.12.2024
Gold continued to fall last week within the medium-term downtrend. As a result, the price has reached the first bearish target near 2631. Afterward, the asset has pierced this level. Therefore, this week, consider holding short trades with the target of 2536.
Short trades can be considered near 2654. The bearish target will be the 2536 level.
The price should break through and settle above the medium-term downtrend’s boundary of 2726 – 2709 to create buying opportunities. In this case, the price will likely continue to grow to the Target Zone 2, 2778 – 2766.
XAUUSD trading ideas for the week:
- Hold up sales opened at resistance (B) 2726 – 2709. TakeProfit: 2536. StopLoss: at the breakeven.
- Sell at 2654. TakeProfit: 2536. StopLoss: 2684.
Technical analysis based on margin zones methodology was provided by an independent analyst, Alex Rodionov.
Gold Price Forecast for 2024–2025 Based on Technical Analysis
The daily chart of gold displays a robust upward trajectory following a correction to the $2,550 level, which has become a key support level. At the same time, the price has pierced the upper boundary of the Bull Flag pattern.
- Support: $2,600 and $2,550 are key levels where buyers may open positions if the price pulls back.
- Resistance: the $2,740 level represents the nearest roadblock to the $2,790 mark.
Technical indicators confirm the upward trend.
- SMA 50 and SMA 100: the price is above both moving averages (50-day at $2,663 and 100-day at $2,560), which confirms the uptrend.
- The RSI (65.5) suggests the potential for sustained growth until the indicator reaches the overbought zone.
- The MACD histogram has entered the positive zone, and the MACD line has crossed the signal line from below, signaling that the uptrend will likely continue.
The daily chart shows that the price has embarked on an upward trajectory towards $2,740, potentially reaching $2,790. However, gold may pull back to $2,660 before resuming its ascent.
On the weekly chart, the quotes are clearly moving in accordance with the Elliott wave pattern. The current wave 4 ended at $2,550, which coincides with the key 38.2% Fibonacci retracement level. Wave 5 is expected to conclude in the $2,900–$3,000 area.
- Support: the $2,550 level was established after the strong correction.
- Resistance: the level of $3,000 is the main target of the current uptrend.
Technical indicators confirm the sustainable upward trend.
- The RSI (63.3) confirms the strength of the current trend. The value is increasing in the neutral zone.
- MACD lines have not intersected yet, but the positive momentum persists, which indicates a possible upward movement in the coming weeks.
Wave 5 will likely terminate in the range of $2,900–$3,000. However, the price may consolidate in the range of $2,700–$2,750 in the short term before rising in wave 5.
| Month | XAUUSD Projected Values | |
|---|---|---|
| Minimum, $ | Maximum, $ | |
| December 2024 | 2,790.00 | 2,810.00 |
| January 2025 | 2,810.00 | 2,862.00 |
| February 2025 | 2,860.00 | 3,040.00 |
| March 2025 | 2,990.00 | 3,040.00 |
| April 2025 | 2,925.00 | 2,990.00 |
| May 2025 | 2,809.00 | 2,925.00 |
| June 2025 | 2,800.00 | 2,921.00 |
| July 2025 | 2,921.00 | 3,000.00 |
| August 2025 | 3,000.00 | 3,081.00 |
| September 2025 | 3,080.00 | 3,140.00 |
| October 2025 | 3,140.00 | 3,200.00 |
| November 2025 | 3,200.00 | 3,260.00 |
| December 2025 | 3,260.00 | 3,400.00 |
Long-Term Trading Plan for XAUUSD
Based on the technical analysis, let’s make a trading plan for the XAUUSD.
Short-term strategy for 3–6 months
- Buy on pullbacks to $2,600–$2,660.
- Targets: $2,900–$3,000.
Medium-term strategy for 6–12 months
- Keep your long trades open until the price reaches the target of $3,200.
- Profits can be taken partially once the price exceeds $2,900.
Long-term strategy for 2024–2025
- Long trades can be kept open until the price reaches the target of $3,400.
- Buy on corrections to the support area of $2,550–$2,700.
Gold continues to demonstrate consistent growth, driven by robust macroeconomic factors. The upward trend is evident across all time frames. Despite the fact that short-term fluctuations cannot be ruled out, the precious metal can climb to the long-term target of $3,200–$3,400 in 2025.
Analysts’ Gold Price Projections for 2024–2025
Let’s review expert forecasts on the price of gold for 2024 and 2025. Analysts give mixed forecasts for the future XAUUSD exchange rate.
Predict-Price
Price range in 2024–2025: $2,480.45–$2,789.48 (as of 26.11.2024).
Predict-Price forecasts that Gold (XAU/USD) will trade between $2,480.45 and $2,789.48. The probability of growth is 8.17%, while the chances of no clear trend reach 91.83%. This indicates a neutral trend with possible fluctuations within the range.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2025 | 2,480.45 | 2,789.48 |
Long Forecast
Price range in 2024–2025: $2,500–$4,244 (as of 26.11.2024).
According to Long Forecast, gold is expected to soar to $4,151 by November 2025, reaching $4,042 by the end of the year.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| December 2024 | 2,871 | 2,500–3,189 | 3,037 |
| January 2025 | 3,037 | 2,993–3,308 | 3,150 |
| February 2025 | 3,150 | 3,134–3,464 | 3,299 |
| March 2025 | 3,299 | 3,188–3,524 | 3,356 |
| April 2025 | 3,356 | 3,356–3,742 | 3,564 |
| May 2025 | 3,564 | 3,367–3,721 | 3,544 |
| June 2025 | 3,544 | 3,445–3,807 | 3,626 |
| July 2025 | 3,626 | 3,509–3,879 | 3,694 |
| August 2025 | 3,694 | 3,694–4,119 | 3,923 |
| September 2025 | 3,923 | 3,718–4,110 | 3,914 |
| October 2025 | 3,914 | 3,693–4,081 | 3,887 |
| November 2025 | 3,887 | 3,755–4,151 | 3,953 |
| December 2025 | 3,953 | 3,840–4,244 | 4,042 |
WalletInvestor
Price range in 2024–2025: $2,619.10–$2,812.27 (as of 26.11.2024).
WalletInvestor forecasts that the price of gold will range between $2733.64 and $2,921.55 in 2024–2025. In December 2025, gold is expected to trade around $2,812.27, confirming a bullish trend.
| Month | Open, $ | Close, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|---|
| December 2024 | 2,620.56 | 2,631.52 | 2,619.10 | 2,631.52 |
| January 2025 | 2,633.38 | 2,669.73 | 2,633.38 | 2,669.73 |
| February 2025 | 2,670.87 | 2,696.73 | 2,670.87 | 2,696.73 |
| March 2025 | 2,698.76 | 2,718.23 | 2,698.76 | 2,718.23 |
| April 2025 | 2,719.88 | 2,730.85 | 2,719.88 | 2,735.53 |
| May 2025 | 2,730.18 | 2,738.62 | 2,727.97 | 2,738.62 |
| June 2025 | 2,739.56 | 2,733.70 | 2,733.70 | 2,740.53 |
| July 2025 | 2,733.87 | 2,766.66 | 2,733.87 | 2,766.66 |
| August 2025 | 2,768.05 | 2,800.17 | 2,768.05 | 2,800.17 |
| September 2025 | 2,801.78 | 2,793.72 | 2,793.72 | 2,803.82 |
| October 2025 | 2,793.92 | 2,811.84 | 2,793.67 | 2,812.27 |
| November 2025 | 2,810.54 | 2,787.71 | 2,787.71 | 2,810.54 |
| December 2025 | 2,786.19 | 2,796.67 | 2,784.27 | 2,796.67 |
CoinCodex
Price range in 2024–2025: $2,613.89–$3,683.95 (as of 26.11.2024).
Based on the latest projections from CoinCodex, the price of gold is expected to fluctuate between $2,613.89 and $3,683.95 in 2024 and 2025. Market sentiment will remain bullish.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2025 | $2,613.89 | $3,683.95 |
Gov Capital
Price range in 2024–2025: $2,418.443–$4,631.934 (as of 26.11.2024).
According to Gov Capital, the XAUUSD price will trade between $2,418.44 and $3,009.28, with an average price of $2,708.66 in December 2024.
In 2025, the gold price is projected to increase. In January, the price will stand between $2,434.90 and $3,257.21. In March, the asset’s value may reach $2,542.05–$3,752.55, with an average price of $3,135.73. In May, the average gold price is forecast to be $3,493.99. In July, the price is expected to range between $3,439.45 and $4,438.65.
By the end of 2025, the rate will likely increase to the range of $3,465.03–$4,631.93, with an average price of $4,002.64.
| Month | Average, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|
| December 2024 | 2,708.657 | 2,418.443 | 3,009.281 |
| January 2025 | 2,828.980 | 2,434.904 | 3,257.208 |
| February 2025 | 3,030.621 | 2,634.211 | 3,519.564 |
| March 2025 | 3,135.727 | 2,542.049 | 3,752.550 |
| April 2025 | 3,366.801 | 2,952.921 | 3,798.731 |
| May 2025 | 3,493.986 | 2,994.900 | 4,005.861 |
| June 2025 | 3,909.422 | 3,256.227 | 4,560.172 |
| July 2025 | 3,951.418 | 3,439.452 | 4,438.645 |
| August 2025 | 3,965.204 | 3,508.969 | 4,516.772 |
| September 2025 | 3,956.334 | 3,381.496 | 4,603.649 |
| October 2025 | 3,966.552 | 3,459.778 | 4,504.757 |
| November 2025 | 3,804.946 | 3,328.032 | 4,341.782 |
| December 2025 | 4,002.640 | 3,465.031 | 4,631.934 |
Most forecasts for the remainder of 2024 project an increase in the price of gold due to economic instability, rising geopolitical tensions, and declining confidence in traditional financial assets. Moderate scenarios anticipate a price increase to the $2,700–$2,800 range, while more optimistic estimates suggest a surge to $3,000.
Analysts anticipate further growth in 2025, with projections reaching $2,905–$4,042 due to heightened economic turbulence and sustained low interest rates. Despite some fluctuations throughout the year, the overall market sentiment remains bullish.
Analysts’ Gold Price Projections for 2026
Most analysts expect gold quotes to surge in 2026.
WalletInvestor
Price range in 2026: $2,798.03–$2,977.29 (as of 26.11.2024).
Analysts at WalletInvestor expect the value of gold to appreciate throughout 2026. Gold will trade at $2,798 in January. The maximum price will be $2,834.41, gradually rising to $2,905.74 by June. In December, the asset is expected to trade within the range of $2,949.36 to $2,961.34.
The price may peak in August at $2,966.29 before declining slightly by the end of the year. Despite minor corrections in some months, the overall trend remains upward.
| Month | Open, $ | Close, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|---|
| January | 2,798.03 | 2,834.41 | 2,798.03 | 2,834.41 |
| February | 2,835.48 | 2,860.79 | 2,835.48 | 2,860.79 |
| March | 2,863.12 | 2,883.24 | 2,863.12 | 2,883.24 |
| April | 2,885.03 | 2,896.02 | 2,885.03 | 2,900.54 |
| May | 2,895.35 | 2,903.21 | 2,893.16 | 2,903.21 |
| June | 2,904.34 | 2,899.08 | 2,898.99 | 2,905.74 |
| July | 2,899.38 | 2,931.31 | 2,899.25 | 2,931.31 |
| August | 2,935.70 | 2,966.29 | 2,935.70 | 2,966.29 |
| September | 2,967.02 | 2,959.28 | 2,959.19 | 2,969.19 |
| October | 2,958.98 | 2,977.17 | 2,958.78 | 2,977.29 |
| November | 2,976.32 | 2,951.88 | 2,951.88 | 2,976.32 |
| December | 2,951.66 | 2,961.34 | 2,949.36 | 2,961.34 |
Coin Price Forecast
Price range in 2026: $3,272–$3,586 (as of 26.11.2024).
Coin Price Forecast assumes that the price of gold will reach $3,272 by mid-2026 and $3,586 by the end of the year. This growth is attributed to sustained robust demand for gold as a defensive asset in the context of continued economic and political uncertainty.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2026 | 3,272 | 3,586 |
Long Forecast
Price range in 2026: $3,795–$4,907 (as of 26.11.2024).
According to Long Forecast, the price of gold is expected to experience pronounced volatility in 2026, yet the prevailing uptrend is projected to persist. In January, the price will trade near $4,042, rising to $4,508 within a month.
In February and March, the forecast points to a decline to $4,070 and $3,995, respectively. Growth is expected to resume in April, with an anticipated target of $4,152. In May and June, the price will undergo a minor correction to $4,040 and $4,003, respectively. However, in July, gold will stabilize at $4,028.
The price will increase to $4,278 in August, decrease to $4,068 in September, and then increase again to $4,287 in October.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| January | 4,042 | 4,042–4,508 | 4,293 |
| February | 4,293 | 3,867–4,293 | 4,070 |
| March | 4,070 | 3,795–4,195 | 3,995 |
| April | 3,995 | 3,944–4,360 | 4,152 |
| May | 4,152 | 3,838–4,242 | 4,040 |
| June | 4,040 | 3,803–4,203 | 4,003 |
| July | 4,003 | 3,827–4,229 | 4,028 |
| August | 4,028 | 4,028–4,492 | 4,278 |
| September | 4,278 | 3,865–4,278 | 4,068 |
| October | 4,068 | 4,068–4,501 | 4,287 |
| November | 4,287 | 4,180–4,620 | 4,400 |
| December | 4,400 | 4,400–4,907 | 4,673 |
Gov Capital
Price range in 2026: $3,612.16–$5,672.32 (as of 26.11.2024).
Gov Capital forecasts that the price of XAUUSD will continue to grow in 2026. The rate is expected to fluctuate between $3,612.16 and $5,672.32 during the year. In January, the minimum price will be $3,626.03, while the maximum price will be $4,754.66. Market analysts suggest that gold may reach $4,519.05 by the end of 2026, indicating the continuation of the current upward trajectory.
| Month | Average, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|
| January | 4,190.773 | 3,626.038 | 4,754.661 |
| February | 4,146.886 | 3,612.165 | 4,652.129 |
| March | 4,197.581 | 3,716.746 | 4,711.447 |
| April | 4,233.294 | 3,676.699 | 4,827.464 |
| May | 4,374.535 | 3,858.038 | 4,939.755 |
| June | 4,462.610 | 3,949.157 | 5,009.747 |
| July | 4,799.347 | 4,067.042 | 5,672.324 |
| August | 4,905.147 | 4,308.591 | 5,538.012 |
| September | 4,761.888 | 4,149.888 | 5,362.229 |
| October | 4,618.765 | 4,005.536 | 5,272.421 |
| November | 4,660.653 | 4,027.804 | 5,275.579 |
| December | 4,519.058 | 3,947.706 | 5,147.355 |
Despite differing forecasts for 2026, analysts concur that gold will remain a sought-after asset in the context of ongoing economic and political uncertainty. Market instability continues to fuel demand for the precious metal, which is set to showcase further growth.
Analysts’ Gold Price Projections for 2027
Analysts believe that gold will be driven by several factors, including global economic trends, changes in interest rates, and political instability in 2027. Experts assume that the value of the precious metal will increase due to strong demand but expect high volatility due to risks in the financial markets.
WalletInvestor
Price range in 2027: $2,962.68–$3,142.30 (as of 26.11.2024).
According to WalletInvestor‘s forecast, gold will see a steady but moderate upswing in 2027. The asset will start trading at $2,962.68 in January and close at $3,126.02 in December. Minor corrections are expected, but the overall trend will remain bullish.
The yearly high is predicted in October at $3,142.30.
| Month | Open, $ | Close, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|---|
| January | 2,962.68 | 2,999.08 | 2,962.68 | 2,999.08 |
| February | 3,000.13 | 3,024.74 | 3,000.13 | 3,024.74 |
| March | 3,027.35 | 3,048.40 | 3,027.35 | 3,048.40 |
| April | 3,049.70 | 3,061.20 | 3,049.70 | 3,065.82 |
| May | 3,059.53 | 3,069.04 | 3,058.20 | 3,069.04 |
| June | 3,069.63 | 3,064.62 | 3,064.39 | 3,071.09 |
| July | 3,064.42 | 3,094.53 | 3,064.30 | 3,094.53 |
| August | 3,099.01 | 3,131.51 | 3,099.01 | 3,131.51 |
| September | 3,132.41 | 3,124.37 | 3,124.37 | 3,134.42 |
| October | 3,124.05 | 3,142.30 | 3,123.94 | 3,142.30 |
| November | 3,141.92 | 3,117.37 | 3,117.37 | 3,141.92 |
| December | 3,117.27 | 3,126.02 | 3,114.51 | 3,126.02 |
Long Forecast
Price range in 2027: $3,741–$4,813 (as of 26.11.2024).
Long Forecast analysts predict a gradual decline in the price of gold in 2027, with periods of temporary increases. The price will trade at $4,673 in January and fall to $3,938 by July. A slight increase to $4,003 is forecast in August. The quotes will soar to $4,251 in September. However, gold is expected to decline to $4,177 in October. In December, gold will likely reach $4,284.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| January | 4,673 | 4,355–4,813 | 4,584 |
| February | 4,584 | 4,217–4,661 | 4,439 |
| March | 4,439 | 4,076–4,505 | 4,290 |
| April | 4,290 | 4,019–4,442 | 4,230 |
| May | 4,230 | 3,912–4,324 | 4,118 |
| June | 4,118 | 3,830–4,234 | 4,032 |
| July | 4,032 | 3,741–4,135 | 3,938 |
| August | 3,938 | 3,803–4,203 | 4,003 |
| September | 4,003 | 4,003–4,464 | 4,251 |
| October | 4,251 | 3,968–4,386 | 4,177 |
| November | 4,177 | 4,096–4,528 | 4,312 |
| December | 4,312 | 4,070–4,498 | 4,284 |
Gov Capital
Price range in 2027: $4,463.11–$6,508.11 (as of 26.11.2024).
According to Gov Capital, the XAUUSD will continue to rise in 2027, experiencing notable volatility.
In January, the price will range between $4,463.11 and $6,035.96. The largest spike in price is expected in March, with a low of $4,893.54 and a high of $6,508.11.
The average price will also show a steady upward trend, reflecting the attractiveness of gold as a long-term investment vehicle and confirming its sustained uptrend. By the end of the year, the average price of the XAUUSD may reach $5,828.68.
| Month | Average, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|
| January | 5,225.339 | 4,463.109 | 6,035.963 |
| February | 5,286.956 | 4,653.920 | 6,090.002 |
| March | 5,728.319 | 4,893.538 | 6,508.106 |
| April | 5,781.182 | 5,094.227 | 6,508.106 |
| May | 5,726.050 | 5,068.576 | 6,458.201 |
| June | 5,781.101 | 5,116.330 | 6,480.187 |
| July | 5,767.202 | 5,009.973 | 6,508.106 |
| August | 5,880.343 | 5,182.013 | 6,508.106 |
| September | 5,817.271 | 5,095.647 | 6,508.106 |
| October | 5,845.131 | 5,179.420 | 6,508.106 |
| November | 5,892.436 | 5,232.031 | 6,508.106 |
| December | 5,828.682 | 5,130.539 | 6,508.106 |
Analysts forecast that gold prices will continue to rise in 2027, although there is a divergence of opinion regarding the extent of anticipated growth. Conservative forecasts indicate a sustained, moderate growth trajectory, while more optimistic scenarios project significant growth, reaching $4,000 and above, given the prevailing economic instability. In light of the current economic challenges, it remains a sound investment strategy to include gold in an investment portfolio, particularly for long-term investors focused on hedging against inflation.
Analysts’ Gold Price Projections for 2028
Let’s examine forecasts for the gold price in 2028. In their estimates, experts consider the potential global economic landscape and shifts in central bank policies.
WalletInvestor
Price range in 2028: $3,130.49–$3,299.54 (as of 26.11.2024).
WalletInvestor predicts a moderate increase in the price of XAUUSD in 2028, with a projected range of $3,130.49 to $3,299.54. Gold will trade at $3,130.49 in January and climb to $3,289.48 by December. Minor fluctuations and corrections are anticipated throughout the year, but the overall trend is expected to remain upward.
| Month | Open, $ | Close, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|---|
| January | 3,130.49 | 3,164.81 | 3,130.49 | 3,164.81 |
| February | 3,165.40 | 3,192.51 | 3,165.40 | 3,192.51 |
| March | 3,193.64 | 3,214.37 | 3,193.64 | 3,214.37 |
| April | 3,218.57 | 3,227.09 | 3,218.57 | 3,231.25 |
| May | 3,225.29 | 3,235.05 | 3,223.36 | 3,235.05 |
| June | 3,235.26 | 3,229.46 | 3,229.46 | 3,236.35 |
| July | 3,229.53 | 3,262.28 | 3,229.53 | 3,262.28 |
| August | 3,264.00 | 3,297.31 | 3,264.00 | 3,297.31 |
| September | 3,297.68 | 3,289.46 | 3,289.46 | 3,299.54 |
| October | 3,288.99 | 3,307.35 | 3,288.99 | 3,307.35 |
| November | 3,307.40 | 3,282.41 | 3,282.41 | 3,307.40 |
| December | 3,281.87 | 3,289.48 | 3,279.73 | 3,289.48 |
Long Forecast
Price range in 2028: $3,807–$4,454 (as of 26.11.2024).
Long Forecast assumes that gold prices are projected to decline in 2028, with periods of short-term growth. The asset will start trading at $4,284 in January and decline to $4,210 in February. In March, the rate will be $4,219 and is expected to rise to $4,319 in April. There will be significant price volatility, but the overall trend is downward due to the potential weakening of demand for gold or the impact of external economic factors.
| Month | Open, $ | Min–Max, $ | Close, $ |
|---|---|---|---|
| January | 4,284 | 4,133–4,569 | 4,351 |
| February | 4,351 | 4,000–4,421 | 4,210 |
| March | 4,210 | 4,008–4,430 | 4,219 |
| April | 4,219 | 4,103–4,535 | 4,319 |
| May | 4,319 | 3,848–4,319 | 4,051 |
| June | 4,051 | 4,051–4,517 | 4,302 |
| July | 4,302 | 4,231–4,677 | 4,454 |
| August | 4,454 | 4,171–4,611 | 4,391 |
| September | 4,391 | 3,913–4,391 | 4,119 |
| October | 4,119 | 3,807–4,207 | 4,007 |
| November | 4,007 | 4,007–4,468 | 4,255 |
| December | 4,255 | 3,829–4,255 | 4,031 |
Gov Capital
Price range in 2028: $4,628–$6,508 (as of 26.11.2024).
The latest forecast by Gov Capital indicates that the XAUUSD will continue to grow in 2028, with quotes expected to range between $4,628 and $6,508. The average price in January is projected to fluctuate near $5,752, declining to $5,633 by December.
| Month | Average, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|
| January | 5,752.316 | 5,055.629 | 6,508.106 |
| February | 5,836.703 | 5,110.074 | 6,508.106 |
| March | 5,897.836 | 5,253.500 | 6,508.106 |
| April | 5,841.204 | 5,034.497 | 6,508.106 |
| May | 5,840.698 | 5,038.717 | 6,508.106 |
| June | 5,874.059 | 5,197.740 | 6,508.106 |
| July | 5,747.332 | 4,628.002 | 6,508.106 |
| August | 5,764.805 | 4,751.508 | 6,508.106 |
| September | 5,833.517 | 5,128.781 | 6,508.106 |
| October | 5,901.463 | 5,259.706 | 6,508.106 |
| November | 5,718.578 | 5,008.914 | 6,508.106 |
| December | 5,633.210 | 4,908.657 | 6,334.666 |
Analysts expect the price of gold to oscillate between $3,130 and $6,508 in 2028. Despite temporary corrections in mid-year, the overall trend is expected to remain bullish. Given these projections, it may be prudent to consider gold as a long-term investment.
Analysts’ Gold Price Projections for 2029
In 2029, analysts expect gold prices to continue to soar, though with possible fluctuations in the rate.
Coin Price Forecast
Price range in 2029: $4,295–$4,426 (as of 26.11.2024).
Coin Price Forecast suggests that gold will demonstrate modest growth in 2029. The value of an ounce of gold will reach $4,295 by mid-year and $4,426 by December.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2029 | 4,295 | 4,426 |
Gov Capital
Price range in 2029: $4,704.78–$6,508.11 (as of 26.11.2024).
According to Gov Capital, strong growth is expected to continue in 2029. The projected price range will be $4,825 to $6,508. The average price will be $5,862 by the end of November. This data confirms the steady growth of gold prices.
| Month | Average, $ | Minimum, $ | Maximum, $ |
|---|---|---|---|
| January | 5,594.119 | 4,825.943 | 6,446.166 |
| February | 5,693.985 | 4,936.959 | 6,508.106 |
| March | 5,523.435 | 4,704.786 | 6,280.467 |
| April | 5,423.088 | 4,738.254 | 6,178.727 |
| May | 5,788.823 | 5,026.829 | 6,508.106 |
| June | 5,679.294 | 4,963.264 | 6,502.051 |
| July | 5,693.679 | 4,944.276 | 6,405.298 |
| August | 5,729.703 | 5,032.608 | 6,448.956 |
| September | 5,853.707 | 5,137.002 | 6,508.106 |
| October | 5,763.244 | 5,082.948 | 6,501.690 |
| November | 5,862.457 | 5,178.520 | 6,508.106 |
CoinCodex
Price range in 2029: $3,492.17–$4,056.87 (as of 26.11.2024).
CoinCodex forecasts a continued increase in gold prices throughout 2029. The rate is expected to range between $3,492.17 and $4,056.87, reflecting a sustained uptrend in the precious metals market in the long term.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2029 | 3,492.17 | 4,056.87 |
All three forecasts point to the uptrend in gold quotes, but the price ranges differ. Coin Price Forecast and Gov Capital suggest rapid growth, while Gov Capital forecasts a more significant appreciation. CoinCodex presents a more conservative forecast, assuming moderate growth, which may be a more likely scenario given the potential price fluctuations.
Analysts’ Gold Price Projections for 2030
Analysts concur that the upward trajectory of gold will persist, buoyed by robust demand for defensive assets, inflationary pressures, and geopolitical turbulence.
CoinCodex
Price range in 2030: $3,785.49–$4,626.83 (as of 26.11.2024).
Based on the latest projections from CoinCodex, the XAUUSD is poised to maintain its upward trajectory in 2030. The asset is expected to trade within a range of $3785.49 to $4626.83, reinforcing the long-term outlook for a continued bull market.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2030 | 3,785.49 | 4,626.83 |
Coin Price Forecast
Price range in 2030: $4,920–$5,085 (as of 26.11.2024).
According to Coin Price Forecast, gold prices will reach new all-time highs in 2030. It is predicted that the price of an ounce of gold will stand around $4,920 by the middle of the year and surge to $5,085 by the end of the year.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2030 | 4,920 | 5,085 |
BeatMarket
Price range in 2030: $4,197–$7,000 (as of 26.11.2024).
Analysts at BeatMarket offer a range of projections for the price of gold in 2030. The most optimistic scenario is that the price of the precious metal will soar to $7,000. However, most analysts expect XAUUSD quotes to hover between $4197 and $4381 per ounce. This estimate is based on the current rate of growth in the value of the precious metal. If factors that drive the price weaken, the price may slump below $4,000. However, this scenario is unlikely to unfold.
| Year | Minimum, $ | Maximum, $ |
|---|---|---|
| 2030 | 4,197 | 7,000 |
There is a considerable divergence of opinion among experts as to the value of gold in 2030. The most optimistic forecasts indicate that the price per ounce could reach $7,000. However, more cautious estimates point to a more modest growth trajectory.
In addition, the potential for a new economic crisis in 2030 cannot be discounted. Such an outcome could result in a significant decline in most assets. Nevertheless, the price of gold will unlikely decline below current levels, as the precious metal has historically retained its appeal during periods of economic uncertainty.
Analysts’ Gold Price Projections until 2050
Long-term forecasts of gold prices are only approximate and are subject to significant change depending on various fundamental factors such as global economic conditions, geopolitical risks, monetary policy, and changes in market supply and demand. This section is analytical in nature and is not intended to provide investment advice.
Axi
According to the Axi portal, the gold price may reach $6,800 per ounce by 2040. The forecast is based on historical data.
Analysts predict that gold prices will gradually rise over the next decades due to increased demand. However, a study by Josep Penuelas notes that global deposits of key metals, including gold, may be exhausted by 2050. At the same time, Robert Kiyosaki argues that gold will retain its value and could become a major currency alongside Bitcoin.
BeatMarket
Analysts anticipate a notable increase in gold prices by 2040, driven by a number of factors, including snowballing US government debt, investors’ preference for more secure assets, mounting inflation, and a decline in mining output. The minimum price is projected to be approximately $2,500, the average rate will be over $16,000, and the maximum price will reach $40,500. The World Gold Council projects the gold price to stand near $3,000, while BeatMarket analysts are more optimistic, forecasting a price above $4,500.
By 2050, gold will likely range between $6,000 and $52,000. While the forecast does not rule out stagnation in gold prices, historical data supports long-term growth.
| Year | BitMarket, $ | Axi, $ |
|---|---|---|
| 2035 | – | – |
| 2040 | 40,500 | 6,800 |
| 2045 | – | – |
| 2050 | 52,000 | – |
Market Sentiment for Gold (XAUUSD) on Social Media
Media sentiment refers to the public opinions and sentiments expressed about a particular asset on social media, blogs, forums, and other online platforms. This indicator assesses the prospects of various financial instruments, such as gold (XAUUSD).
Key Metrics of Media Sentiment
Social Volume:
- An indicator that captures unique mentions of an asset on social media.
- A unique mention is logged each time a user posts a message related to the asset.
Social Engagement:
- This metric gauges user engagement around a specific topic or asset, including likes, comments, reposts, and other forms of interaction.
- A high level of engagement signals strong community interest, which can potentially boost the liquidity of the asset.
Net Social Media Sentiment:
- The indicator reflects the prevailing market sentiment, as derived from an analysis of posts on social media.
- All publications are categorized as bullish (optimistic) or bearish (pessimistic).
X (Twitter): there has been an increase in the number of mentions of gold in recent weeks. Users are discussing the rise in gold prices and its potential for further growth.
For instance, Mary believes that the gold (XAUUSD) demonstrated a recovery this week, recouping losses incurred the previous week after rebounding from key support levels.
Wall Street Gold stresses that following a period of diminished bullish sentiment, the market is positioned for a robust and assertive rally, with the potential to reach $2,900–$3,000 or even higher.
Meanwhile, Christopher Aaron notes that if gold continues to consolidate above $2,518–$2,535, the asset may hit new all-time highs in early 2025.
Most experts believe that XAUUSD quotes will increase. However, corrections and periods of price consolidation cannot be ruled out.
Gold Price History (XAUUSD)
Gold reached its all-time high of $2790.02 on 2024-10-31.
The lowest price of gold was recorded on 1999-08-25 and reached $252.55.
Below is a chart showing the performance of XAUUSD quotes over the last ten years. In this connection, it is important to evaluate historical data to make predictions as accurate as possible.
The price of gold as a financial asset is shaped by various political and economic factors. However, the key factor to focus on in forecasts is the US dollar, as the value of the precious metal is denominated in this global reserve currency.
A strong dollar makes gold less expensive, while a weaker US currency drives the price of gold higher. Furthermore, the United States is the world’s largest holder of gold bullion reserves.
Since the beginning of November 2022, the price of gold has risen steadily, reaching $1,854.38 in December 2023. By May 2023, the rate climbed to $1,999.47, after which it began to decline. Over a five-month period, the precious metal lost approximately 13% of its value.
Following the outbreak of hostilities in the Middle East in October 2023, the price of the XAUUSD began to recover, reaching $2,041.19 by the end of December. From the beginning of 2024 until the end of February, gold quotes remained within a range of $2,088.40 to $1,984.23.
In 2024, gold prices saw significant shifts due to a number of pivotal factors:
Geopolitical tensions. The ongoing conflicts in the Middle East and Eastern Europe have spurred demand for gold. In October 2024, the price per troy ounce exceeded $2,750.
Monetary policy in the US. The Federal Reserve’s interest rate cut in 2024 increased the attractiveness of gold, with the precious metal’s quotes soaring to $2,630.
Central bank policy. Central banks, especially in Asia, actively purchased gold to diversify their assets and reduce dependence on the US dollar and the euro. This trend supported the growth of gold prices during the year.
Inflation expectations. Soaring inflation in the world’s leading economies increased the demand for gold and boosted its price.
Gold Price Fundamental Analysis (XAUUSD)
As a rule, fundamental analysis is commonly associated with the stock market, not with the precious metals market. While analysts scrutinize the financial statements of different companies, XAUUSD analysts track macroeconomic factors, global political and economic news, and various forecasts. Let’s look at the factors that can affect the price of gold.
What Factors Affect the Gold Rate?
Below, let’s examine some factors that influence the value of the XAUUSD.
Inflation
The value of XAU is affected by inflation, though not to the extent that many novice investors believe. The assumption is that if prices rise in the US, the cost of the precious metal should also pick up, as the depreciation of the US currency causes investors to pay more for an ounce of gold. However, in the long run, there is no strong correlation between inflation and the price of the precious metal.
Source: Tradingview.com
The absence of a significant correlation can be attributed to two key factors:
- Gold is not a strategic commodity. In other words, gold is not used the same way as oil or metals, so it responds differently to changes in the purchasing power of a currency.
- During periods of economic expansion and growth in the stock market, gold competes with other assets for profitability and investor attention. Furthermore, during such periods, commodity prices are typically elevated.
Currency Exchange Rate Fluctuations
Gold is considered a safe-haven asset along with the US dollar. Consequently, when the exchange rate of one currency depreciates against other reserve currencies, the purchasing power of gold in other currencies is maintained, resulting in an increase in the value of the precious metal against the depreciated currency.
Source: Tradingview.com
Geopolitical Tensions
Any military conflict or financial crisis introduces a significant element of uncertainty for investors. Gold is an effective hedge during periods of market volatility. Additionally, factors such as excessive spending, money supply, political instability, and currency depreciation contribute to XAU’s growth.
Interest Rates
The price of gold is susceptible to shifts in interest rates. Precious metals are highly responsive to assets that offer potential income, including bonds and even dividend stocks. There is a discernible, though not absolute, negative correlation. When US government bond yields rise, there is a high probability that gold’s price will move sideways or even decline. Conversely, a decline in the yields typically spurs the XAUUSD exchange rate.
Supply and Demand
The most complex factors in predicting the precious metal exchange rate are supply and demand. Major investors in gold, including central banks, the IMF, and leading funds, play a significant role in influencing market trends. Their strategic actions can considerably impact the demand for gold jewelry and investment instruments.
It is almost impossible for an average investor to fully factor in the actions of major market participants. To gain a comprehensive understanding of the market balance, it is essential to understand that the bulk of gold demand is distributed relatively evenly between investment instruments and jewelry.
What Can Affect the Gold Rate: Factors to Consider
Gold has historically been regarded as a safe-haven asset during periods of global instability. In 2024, the appreciation in the value of gold was linked to the escalation of hostilities in multiple regions.
- Russia and Ukraine. The ongoing conflict is a source of continued uncertainty in financial markets. The imposition of additional sanctions against Russia, including restrictions on the export of commodities, has resulted in a global increase in commodity prices and a surge in demand for safe-haven assets.
- Conflict in the Middle East. The prevailing instability of the region is prompting investors to seek more reliable assets, such as gold.
- Tensions around Taiwan. China’s continued military activity off the coast of Taiwan has led to increased investor concerns about the potential for future conflict in the region.
One of the most notable developments in the global financial landscape in 2024 is the trend towards de-dollarization. Many countries, particularly within blocs such as BRICS, are pursuing strategies to reduce their reliance on the US dollar in international trade.
- BRICS and alternative currencies to the US dollar. BRICS nations are actively increasing the use of their currencies for mutual settlements. India, China, and Brazil have already announced numerous initiatives to conduct transactions in their respective national currencies, reducing the share of US dollars and increasing the demand for gold to bolster reserves.
- Saudi Arabia and oil trade. In early 2024, Saudi Arabia initiated discussions with China on the potential use of the yuan to settle oil payments. This move reduces the US dollar’s role in oil trade and aligns with the broader de-dollarization trend.
The monetary policies of the world’s central banks have a significant impact on the price of gold. In 2024, the US Federal Reserve, the ECB, and the People’s Bank of China maintained different but interrelated strategies.
- Starting in September 2024, the Fed began to cut the federal funds rate. This has led to an increase in the gold price. In addition, continued economic uncertainty, including speculation over a soft landing of the US economy, supports gold as a safe-haven asset.
- Central banks of China, India, and Turkey continue to increase their gold reserves. For example, in June 2024, Turkey announced plans to increase its gold reserves, which immediately boosted gold quotes.
In light of skyrocketing inflation, investors seek to safeguard their capital by allocating funds to gold in 2024.
- Inflation in advanced economies. The US, UK, and Eurozone countries face slowing but still elevated inflation rates. In the US, inflation has slowed to 3.4%, but uncertainty over future price increases pushes investors toward gold.
- Slowing growth in China. China’s GDP is also slowing down, especially amid weak export demand and a crisis in the real estate sector. Such factors are forcing the Chinese government to keep reserves stable with gold.
The energy crisis in Europe has also impacted the gold market.
- Sanctions and restrictions on commodity exports. In 2024, restrictions on Russian oil and gas led to a sharp rise in energy prices. This was an additional incentive for countries and investors to increase their share of gold reserves to protect themselves from inflationary pressures caused by rising energy costs.
- Transition to renewable energy. The shift to renewable energy sources requires large quantities of precious metals to produce solar panels and batteries, which supports gold demand.
Gold is an important element in the production of electronics and technology.
- The technology sector is experiencing rapid growth, driving demand for gold in microelectronics manufacturing. Major technology companies such as Apple and TSMC use gold in their products, contributing to an overall increase in global demand.
- The development of green technology is also an important factor. The production of electronics for solar panels and electric transportation supports the demand for gold and other precious metals.
More Facts About Gold
Gold is one of the longest-standing and most valuable metals, with mining operations dating back over 6,000 years to ancient Egypt. During this period, gold was a prominent symbol of power and wealth. Over time, gold has become a universally accepted means of exchange and an essential component of the global economy. The continued demand for this precious metal is driven by its scarcity and resilience to external influences. Gold’s limited deposits and mining difficulty make it a valuable asset, particularly during economic uncertainty. In periods of economic turbulence, the demand for gold rises as it offers a reliable hedge against inflation.
Gold is a versatile asset, utilized not only as an investment vehicle but also in a multitude of industrial applications. In jewelry, it is esteemed for its aesthetic appeal and resilience. In electronics and medicine, gold is employed due to its conductivity and resistance to corrosion. In the space industry, it is utilized to safeguard equipment from radiation. In addition, gold is a favored asset among traders due to its liquidity. Overall, this precious metal is regarded as a symbol of stability and reliability, playing a pivotal role in the global economy.
Advantages and Disadvantages of Investing in Gold
Gold is a popular asset among traders and investors, offering a range of advantages over other asset types.
- Hedge against inflation. Gold has historically been regarded as a means of safeguarding capital against high inflation. In periods of economic turbulence or rising prices for goods and services, the value of gold tends to appreciate, thereby maintaining the purchasing power of investors.
- Portfolio diversification. Investing in gold can help reduce the overall risk of a portfolio. Gold has a low correlation with stocks and bonds, which means its value often moves in the opposite direction of other assets.
- Liquidity. Gold is a highly liquid asset that can be purchased and sold with minimal effort in global markets. This makes it an attractive option for investors who want to be able to convert the asset into cash quickly.
- Reliability during crises. During economic crises and geopolitical tensions, gold is often seen as a safe-haven asset for investors seeking to preserve their capital.
However, there are disadvantages to investing in gold.
- Lack of passive income. Unlike stocks or bonds, gold does not generate passive income such as dividends or interest. Investors only gain profits from the appreciation in the value of gold.
- Volatility. Despite its reputation as a safe-haven asset, gold can exhibit significant volatility in the short term. Sharp price fluctuations can lead to losses for short-term investors.
- Storage and insurance costs. Physical gold incurs storage and insurance costs, especially in large volumes. This can reduce the overall return on investment. Therefore, most investors prefer to utilize margin trading with CFDs on gold, which allows them to profit from changes in the price of the asset without having to actually purchase gold bullion.
- Dependence on global prices. The value of gold is determined by global factors such as supply and demand, the economic performance of major economies, and the geopolitical environment. This makes it susceptible to external shocks that investors cannot influence.
Gold can be a valuable addition to a diversified portfolio, particularly during economic uncertainty. However, it is essential to adopt a cautious approach and to carefully assess the potential risks involved before making investment decisions.
How We Make Forecasts
We employ a blend of fundamental and technical analysis to build our forecasts for gold prices.
- Short-term forecasts are based on a technical analysis, encompassing technical indicators, trading volume, and investor sentiment.
- Medium-term forecasts rely on analysis of macroeconomic data, central bank policies, and current geopolitical events.
- Long-term forecasts take into account global macroeconomic trends, changes in global trade and demand for gold, as well as forecasts of leading analytical agencies.
Our approach combines technical and fundamental aspects for a comprehensive analysis.
Conclusion: Is Gold a Good Investment?
Gold has traditionally been considered a reliable asset during economic and geopolitical unrest. It effectively protects capital against inflation and financial market turbulence. In the short term, gold can be subject to volatility, but it shows steady growth in the long term, especially in times of crisis. Investments in gold are suitable for portfolio diversification but, like any asset, require a well-informed approach, risk consideration, and strategic planning.
In the fall of 2024, the US Federal Reserve began to reduce the interest rate. In November 2024, it stood at 4.75%. Monetary expansion stimulates long-term demand for gold as it becomes more attractive than other assets with declining yields.
Furthermore, the election of Donald Trump as US President in November 2024 represents an additional factor. His rhetoric and promises to rebuild the national economy, renegotiate foreign trade agreements, and revitalize US industry are generating uncertainty in global financial markets. The combination of political instability, potential sanctions, and trade restrictions with other countries prompts investors to exercise greater caution in their asset selection. Gold remains a reliable safe-haven solution during such periods.
In light of the prevailing geopolitical tensions, the Federal Reserve’s accommodative monetary policy, and the uncertainty surrounding the new US president’s policies, expert forecasts suggest a notable increase in the value of gold in 2024 and 2025.
Furthermore, you can open a free demo account with LiteFinance. LiteFinance offers up-to-date insights on gold as an investment asset, and the platform’s user-friendly interface makes it simple for you to start trading precious metals and other financial instruments.
Get access to a demo account on an easy-to-use Forex platform without registration
Gold Price Prediction FAQ
The current price of gold is $2 628.66 as of 23.12.2024.
While there may be short-term fluctuations and corrections, the long-term outlook for the gold rate remains optimistic. It is expected that demand for gold as a protective asset will increase against monetary policy easing and geopolitical instability.
Analysts expect gold prices to increase to the range between $3,492 and $6,508, pointing to a sustainable uptrend with possible fluctuations.
Analysts have revised their forecasts for the value of gold and now anticipate a range of $4,200 to $10,000 over the next 10 years. Optimistic scenarios suggest significant growth driven by inflation, de-dollarization, and geopolitical tensions. Conversely, conservative forecasts predict a moderate increase assuming a stable global economy.
Gold has been regarded as a crucial protective asset since ancient times, safeguarding the value of global currencies and wealth. Given its consistent value growth, it is a sound decision to invest in gold.
The XAUUSD’s future remains promising due to continued economic and geopolitical instability. The Fed’s interest rate cut to 4.75% supports gold and weakens the US dollar. Political uncertainty following the re-election of Donald Trump is also driving appetite for the safe-haven asset. Revised forecasts suggest that gold will soar to $4,042 per ounce by the end of 2025 and $7,000 by the end of 2030, confirming the long-term uptrend.
The XAUUSD is trading near its all-time highs. If you are focused on short-term profits, it may be worth waiting for a correction. If your goal is long-term capital protection, buying gold at the all-time high would be justified, as gold traditionally retains its value over long-term horizons. The best way to balance your approach is to buy gold gradually, for example, through a value averaging strategy (buying in several stages). This will help mitigate the risks associated with a high price at the current moment.
Analysts project that the price of gold will rise in the coming years, reaching projected highs by the end of 2025 and continuing to increase through 2050. By 2050, the price could reach the $5,200 mark.
Gold is regarded as a reliable asset, with its value consistently rising. Consequently, the XAUUSD will not experience depreciation and will remain in demand as a means of safeguarding against the risks associated with rising economic and geopolitical tensions.
Gov Capital assumes that the minimum projected gold price will be $2,418 per ounce in December 2024, while CoinCodex estimates that gold will not decline below $2,613 per ounce in 2024 and 2025. These values represent the assumed lows in a market correction due to the current economic and geopolitical instability.
The primary drivers of the gold price are macroeconomic factors, geopolitical tensions, global inflation, and financial regulators’ restrictive monetary policies.
Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
{{value}} ( {{count}} {{title}} )
This post is originally published on LITEFINANCE.
