Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$2,648.78
-7.23
-0.27%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | -0.30% | -0.30% | +0.24% | +0.39% | +2.74% |
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: September 26, 2024
Gold Forecast Short Term
Bullish
Price Drivers for next 6 weeks:
Dollar, cycle lows, Federal Reserve policyGold Forecast 1 Year
Bullish: $2850
Medium-term price drivers:
US dollar, bear market in stocks and recession, investor sentimentGold Forecast 3 Years
Bullish: $3550
Long-term price drivers:
US dollar, US budget deficits, central bank monetary debasement, negative real interest rates, and the potential for an uptick in sovereign buying.Featured Gold Price Forecasts
From my prior articles, the last good swing low for Gold came from our 72-day time cycle, which formed its bottom back in early-June. With that, this wave - as well as the mid-term 310-day cycle - is well into topping range, and with that is looking for a sharp decline to play out in the coming months.
With the above said and noted, we can take a look at the current status of the Gold cycles, to see where we are in the overall environment.
Gold's 72-Day Cycle
The 72-day cycle is the most dominant cycle in the Gold market, and is shown on the chart below:
As noted in our Gold Wave Trader report back in June, the reversal above the 2408.10 figure 'triggered' (confirmed) the current upward phase of this 72-day cycle, which has seen a gain of nearly 300 points through that figure.
In terms of time, the current upward phase of this 72-day cycle is well into extended...
Physical gold is no longer cheap.
When I began publishing for Gold Eagle in late-2015, physical gold was trading near $1,100 per ounce.
It had been declining for four years, following the September 2011 peak at $1,920 per ounce. No one wanted it.
The mainstream narrative was that the Federal Reserve was going to hike interest rates for the first time in a decade in December 2015, and higher rates were bad for gold.
I thought the opposite – that higher rates would be good for gold – and I said so in this article.
What ended up happening?
Gold bottomed the day after the Federal Reserve interest rate hike in December 2015, and hasn’t looked back since. As this article is being written, gold is trading at an all-time high of $2,670 per ounce, nearly triple the price it was trading at just nine years ago.
Indeed, a quick look at the gold chart below shows the obvious: gold has had a fantastic run. Congratulations to anyone who followed this analysis back in 2015.
However, nothing moves higher forever, and it is at this point that we must state the obvious: physical gold is no longer cheap....
More Gold Price Forecasts
The ECB cut rates by .25% Thursday, trimming growth expectations for 2024 and beyond. Gold futures exploded through resistance near $2,560, confirming a breakout with a medium-term price target near $2,800.
From my prior articles, the last key low for Gold came with the bottoming of our 72-day cycle - made back in early-June. From there, the analysis called for strength into the late-July timeframe or beyond, before looking for indications of the next mid-term peak...
From my prior articles, we expected the last key low for Gold to form into the late-May to early-June timeframe - a move which was expected to end up as a countertrend affair. From there, the analysis called for new all-time highs to be seen into the late-July...
As mentioned in my prior articles for Gold-Eagle, the last low of significance for Gold was due to form into the late-May to early-June window. That decline was favored to end up as a countertrend affair, before turning back to higher highs into July or later - then...
The gold price has just recorded a new record all-time high: $2,483 in the spot market on the night of July 17, 2024. Although this new record is a welcome development for precious metals investors, just within the last week a new signal has developed which may...
The gold cycle bottomed in our June target window and the breakout towards $2800 is underway. Our analysis supports a seasonal peak by September, followed by a potentially sharp retracement into year-end.
From comments made in my past articles, Gold was ideally headed down into the late- May to early-June window, before setting up the next key low. With the recent action, we have either formed that low (yet to be confirmed), or else we have a marginally lower low...
Gold, silver, and platinum closed above the prior week's highs, and I see the potential for cycle lows. Miners gapped through their respective 50-day EMAs on Thursday, and one more strong up-day would establish a bottom.
Metals and Miners are in the timing window for cycle lows and prices may be very close to bottoming. Gold needs to close above Wednesday’s $2358 high to reverse the post-Fed breakdown and support an immediate bottom.
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.
Gold Forecast Analysts
Technical Analysis Expert & Editor @ GoldPredict.com
AG Thorson is a registered CMT through the MTA and an recognized expert in technical analysis of the precious metals markets. He is also the Editor of GoldPredict.com where members receive daily updates and regularly scheduled reports 3-days a w More...
Chief Analyst & Founder @ iGold Advisor
Christopher Aaron began his career as an intelligence analyst for the CIA and Department of Defense. He served two tours to Afghanistan and Iraq between 2006 - 2009, conducting pattern-of-life mapping for military leaders.Mapping shares similarities More...
CFA, Editor & Founder @ Sunshine Profits
Przemyslaw Radomski, CFA, is the founder, owner and the main editor of SunshineProfits.com. You can reach Przemyslaw at: http://www.sunshineprofits.com/help/contact-us/. More...
Goldschläger and Goldwasser are liqueurs containing pure gold flakes.
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