Latest Gold Price Forecast & Predictions

Gold Price Now: $2,033.43 USD
Recent Changes
Period 2 Days 3 Days 1 Week 2 Weeks 1 Month
Change,% -0.48% +1.01% +2.96% +6.92% +12.39%

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 06, 2020

Gold Forecast Short Term

Sideways
Price Drivers for next 6 weeks:
US Dollar, debt levels, open interest in COMEX futures, more stimulus from US government.

Gold Forecast 1 Year

Bullish: $2,243
Medium-term price drivers:
US dollar devaluation, US presidential election, debt defaults, physical market growth, NIRP/ZIRP, safe-haven appeal

Gold Forecast 3 Years

Bullish: $3,071
Long-term price drivers:
US Dollar, MMT, QE, yield curve control, negative interest rates, lost faith in government money, safe haven appeal, COVID-related economic issues, COMEX trading, rise of alternative media educating people on gold.

Featured Gold Price Forecasts

Gold 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

Analyst, Author, & Founder @ Dohmen Capital Research
Bert Dohmen is a professional trader, investor, and analyst. As the founder of Dohmen Capital Research group and Dohmen Strategies, LLC, he has been giving his analysis and forecasts to traders and investors for over 43 years. He has been a sp More...
Investment Analyst & Founder of Nicoya Research
Jason Hamlin is the founder of Nicoya Research and has been publishing investment research at goldstockbull.com since 2006. His background is in data analytics for the world’s largest market research firm. Jason consulted to Fortun More...
Due primarily to the California Gold Rush, San Francisco’s population exploded from 1,000 to 100,000 in only two years.
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