Gold Price Forecast: Next Buying Opportunity Expected in July
The Fed kept interest rates unchanged, and Powell has chosen to stay on as a governor after his term concludes.
Metals and mining stocks seem to be carving out short-term lows, with the potential for a rally into May; I’ve sketched out some rough expectations.
Overall, I think precious metals are in a 2006-style consolidation phase that could last several more months, with the next attractive buying opportunity likely emerging around July.
Our Gold Cycle Indicator finished at 150. Expect the GCI to enter cycle bottoming around mid-year.
GOLD: I think gold is forming an interim low, and I expect a rebound into May before slipping back towards $4,300 for a mid-year low.
SILVER: Here's a rough estimate of what I expect in silver over the next few months. A decisive breakdown in the dollar would change my outlook.
PLATINUM: I see platinum bouncing into May, then slipping into a mid-year low, potentially testing support near the October $1,750 high.
GDX: Here's a rough estimate of where I think miners are heading over the next few months. A strong breakout above the April high would invalidate this view.
GDXJ: I see juniors potentially testing or breaking marginally below the March low, perhaps sometime in July. A decisive breakout above the April high would alter my outlook.
SILJ: If miners bounce into May and rollover as expected, I'll look for a retest of the March low sometime in July.
S&P 500: The S&P 500 jumped to new all-time highs as major tech earnings beat estimates. I’d be surprised if this marks the beginning of a sustained upswing, and therefore believe the upside is somewhat limited.
BITCOIN: Progressive closes below the 50-day EMA ($73,675), paired with a breakdown in momentum (above), would support the onset of the next downswing.
In closing
Gold and silver are taking a much-needed breather after explosive gains in 2025. I see gold reaching $8,000 in 2027 and potentially as high as $15,000 in 2031. Silver will need time to digest its surge to $120, but my work supports a target range of $300 to $500 within the next few years.
AG Thorson is a registered CMT and an expert in technical analysis. For more price predictions and daily market commentary, consider subscribing at www.GoldPredict.com.
********
