Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$1,789.23
+15.94
+0.90%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | +0.80% | +0.80% | +0.81% | +3.77% | +2.69% |
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: August 07, 2022
Gold Forecast Short Term
Sideways
Price Drivers for next 6 weeks:
Falling dollar, rebound is investor sentiment, resistance at $1,850, Market pricing of future FOMC rate hike decisionsGold Forecast 1 Year
Bullish: $1,712
Medium-term price drivers:
US dollar, inflation data, real yields, weak investor sentiment in general until bear market ends in stocks.Gold Forecast 3 Years
Bullish: $2,168
Long-term price drivers:
US dollar, falling currency prices, fed interest rate pivot, structural stagflation, negative real interest rates, and the potential for an uptick in sovereign buying. On the negative side: competing market share with bitcoin for self-custodial money.Featured Gold Price Forecasts
Recapping Last week
Following early-week strength, Gold formed its low for last week in Wednesday's session, here doing so with the spike down to the 1770.00 figure. From there, a firm push higher was seen into Thursday, with the metal running up to a peak of 1812.00 - before backing off the same to end the week.
Gold Market, Short-Term
From the comments made in past articles, Gold was seen as forming a key price low - which came from the combination of 10, 20 and 34-day cycles. That low was later confirmed to be set in place in our Gold Wave Trader report, and with that called for a significant short-term rally. Shown below again is our 34-day cycle component:
From my 7/10/22 article: "Once the next 10, 20 and 34-day combination low is in place, then the probabilities should favor a very nice rally in the days/weeks to follow. In terms of price, Gold has a very strong tendency (i.e., 85% odds) to revert back to a moving averages which is in line with the cycle length(s). With that, the upside potential for the next rally is...
Gold has just witnessed a successful support test of a critical level which keeps the technical model bullish until proven otherwise. In this article, we will detail the technical test just witnessed, and what the expected outcome will be for gold as long as support continues to hold.
First a look at the support test which has just occurred within the last two weeks.
Gold Support Holds
Note the primary rising support for gold (blue line), which began exactly four years ago, at $1,180 per ounce in August 2018. This rising trend of buying pressure was tested on no less than four occasions through mid-2019, after which gold began to rise more aggressively toward its 2020 peak of $2,074 per ounce.
Markets have a way of coming back to test long-term trends, and this is exactly what gold has done over the past two weeks. Certainly expectations for a peak in the Federal Reserve’s interest rate hike cycle are already factoring into gold, as the market attempts to be forward-looking by approximately 6 – 12 months. Regardless of the reasons why, gold has bounced at a confluence of support which dates back to 2018, and thus keeps our bullish model alive.
So what is next for gold?
Gold Price Forecast
The following projection assumes that rising primary support (blue), which has now held...
More Gold Price Forecasts
In yesterday’s analysis, I wrote the following right below the USD Index charts: This move is in tune with what we saw at previous local bottoms. The RSI moved slightly below 50, and it’s the turn of the month – this combination was enough to trigger rallies in the U.S...
Last week's trading saw Gold forming its low in Tuesday's session, here doing so with the tag of the 1727.00 figure. From there, a sharp rally was seen into late-week, with the metal pushing all the way up to a Friday peak of 1784.60 - also ending the week at or near...
Following a consolidation into early-week, Gold saw its low registered in Thursday's session, here doing so with the spike down to the 1678.40 figure. From there, a sharp reversal to the upside was seen to end the week, with the metal hitting a Friday peak of 1738.30...
Gold, silver, and miners declined heavily in the past weeks, but it seems that they got too low, too fast, and now a quick rebound seems very likely.
According to the charts we have viewed in this article... Gold appears to have broken below short and mid-term support. Possible slowing of gold price descent could come somewhere between $1500-1600 oz. Longer-term support for gold could come in at $1450-1475 oz.
Gold saw its high for last week made in Wednesday's session, with the metal spiking up to a post-CPI peak of 1744.30. From there, however, a drop back to lower lows for the swing was seen into later in the week, here hitting a Thursday bottom of 1695.00 - before...
Gold saw its high for last week made in Monday/Tuesday, here doing so with the tag of the 1815.20 figure. From there, a sharp decline was seen into late-week, with the metal dropping all the way down to a Friday low of 1726.00 - before bouncing off the same into daily/...
Gold saw its high for last week registered in Monday's session, here doing so with the tag of the 1842.80 figure. From there, a sharp decline was seen into late week, with the metal dropping all the way down to a Friday low of 1783.40 - before bouncing off the same...
Gold saw its high for last week registered in Wednesday's session, here doing so with the tag of the 1850.30 figure (August, 2022 contract). From there, a decline was seen into late-day Friday, with the metal dropping down to a low of 1817.70 - before bouncing slightly...
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
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...
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...
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...
Minting of gold in the U.S. stopped in 1933, during the Great Depression.
Latest Gold Analysis
