Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$1,822.00
+1.70
+0.09%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | +0.16% | -1.17% | -2.83% | -5.51% | -5.95% |
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: October 04, 2023
Gold Forecast Short Term
Bearish
Price Drivers for next 6 weeks:
US Dollar, interest rates, gold break of 5-year rising trend.Gold Forecast 1 Year
Sideways: $1930
Medium-term price drivers:
US dollar, bear market in stocks and recession, weak investor sentimentGold Forecast 3 Years
Bullish: $2,560
Long-term price drivers:
US dollar, falling currency prices, fed interest rate pivot, structural stagflation, central bank monetary debasement, negative real interest rates, and the potential for an uptick in sovereign buying.Featured Gold Price Forecasts
Gold broke key support and miners are collapsing - the final washout is in full swing. If I were to rate the current panic on a scale from 1 to 10, I’d give it a 6. Could it get worse? The next few days are crucial.
The Good News
The gold miners have been bottoming in late September for the last few years. Prices tend to peak in April or May and bottom just before October. If the cycle holds, GDX could reach a low in the next few trading days. To confirm a bottom, prices would need to close above the most recent gap.
The Bad News
If GDX doesn’t bottom in the next few trading days, then the current washout could extend into October and miners may retest last year’s lows. With gold entering its fifth month of lower prices we see a sustained downtrend unlikely.
Gold Seasonality
Seasonal weakness in gold typically bottoms between August or September followed by strength into year-end. The current drawdown is par for the course and prices should begin to stabilize.
Gold Big Picture
When you...
Following Wednesday’s Federal Reserve meeting, the gold market is at a make-or-break moment: if key support at $1,885 can hold over the coming weeks, gold should be set to break to new all-time highs later this year or early 2024. However, if this key support fails, gold will likely not be breaking out until 2025 in the best case scenario. In a worst case scenario, a failure at $1,885 would imply that a long-term top is already in place for the sector.
Following a long-term top, years or even decades of lower gold prices would manifest. It is thus imperative for investors to follow these significant trends that are now being tested.
Let us examine the key support areas to define these tests in the gold market.
Defining Gold’s Key Support
Gold’s key support is a 5-year linear rising trend of buyers which began to emerge out of the August 2018 lows (blue):
Since 2018, on no less than 8 occasions (blue arrows), each time gold has touched this rising trend, buyers have emerged to propel the precious metal higher. [Note the one false breakdown in 2022 (red). Upon recovery, the primary trend (blue) acted as support again on 3 additional occasions, reestablishing its legitimacy.]
Whatever their reasons – concerns over depreciating fiat currencies, rising debt levels...
More Gold Price Forecasts
With the recent action seen in the markets, I thought it would be a good time to take a look at both the Gold market - as well as U.S. stocks (as measured by the S&P 500) - with each of these markets nearing key junctures.
We see the potential for a strong breakout in gold in the coming weeks. The next time prices break above $2000 - they may never look back. Once gold clears $2100 it will be drawn to $3000 like a magnet.
The divergence between economic indicators is highly supportive of a recession. I have no idea when it starts, but I’m confident it’s coming. Precious metals may languish into September, but once long-term yields peak, I expect a powerful wave III rally to new all-...
Multiple factors support a recession starting in the second half of 2023 and lasting well into 2024. Record business tax refunds are keeping employment healthier than it otherwise would be. Gross Domestic Income turned negative in the fourth quarter of 2022,...
Since my last article from late-June, Gold has seen the anticipated bottom - with its next upward phase currently deemed to be in force. The current rally should have further to run, though is anticipated to end up as an eventual countertrend affair.
There is an ominous signal within the precious metals complex which warns that gold may form a significant multi-year top within the next 12 – 18 months. This does not mean one should abandon the sector altogether, as holding some gold is always prudent as an...
Recession Outlook
The recession I've been expecting is taking far longer to materialize than envisio
This is one of the most bullish gold charts I've seen in a long time. The three-year consolidation is almost complete, and we expect a rally towards $3000 over the next 12 to 18 months. Gold miners could explode higher, and silver may retest $50.
Since my last article posted back in late-May, Gold has seen an in-between bounce - which has given way to the expected lower lows for the bigger swing down. With that action, we are now in the range for the next key bottom to form.
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...
In 1792 the U.S. Congress adopted a bimetallic standard (gold and silver) for the new nation's currency - with gold valued at $19.30 per troy ounce
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