Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$1,744.61
-1.07
-0.06%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | -1.41% | -3.64% | -3.18% | -4.45% | -5.54% |
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: July 07, 2022
Gold Forecast Short Term
Sideways
Price Drivers for next 6 weeks:
US dollar, inflation, Fed July interest rate hike, market pricing in the peak of forward Fed tightening due to debt problems, CPI prints.
Gold Forecast 1 Year
Bullish: $2,075
Medium-term price drivers:
US dollar, inflation data, real yields, and weakening stock market.Gold Forecast 3 Years
Bullish: $2,750
Long-term price drivers:
US dollar, fed monetary debasement, persistently negative real rates, competition with bitcoin as alternative money, bear market in stocks will be over and metals will lead.Featured Gold Price Forecasts
Mining stocks moved higher on Friday, and you might be wondering if this was anything more than a daily breather – so let’s start today’s analysis with the GDXJ ETF.
In short, so far, we haven’t seen a good indication that the rally is anything more than a normal daily rebound. Even the very sharp declining, red, dashed resistance line remains unbroken.
Consequently, the trend remains down.
Now, the bigger of the orange rectangles that you see on the above chart just ended, which means that, based on the time analogy to the April-May decline, we might see a bigger corrective upswing shortly. However, it’s not very likely that this is going to be the case. The reason is that this time the decline was visibly smaller than it was before, and thus the GDXJ is not as severely oversold.
Additionally, there are good reasons (like the situation in the USD Index) to think that the precious metals sector is about to move much lower instead of rallying. I covered many of them in Friday’s flagship Gold & Silver Trading Alert.
...
Recapping Last week
Gold prices saw the 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 into the daily/weekly close.
Gold Market, Short-Term
For the very short-term, the downward phase of the 10-day cycle is still deemed to be in force, with the same now at 13 trading days along from its last labeled low, with this wave shown again on the chart below:
As mentioned last weekend, the next smaller-degree bottom is expected to come from this same 10-day wave. In terms of price, any reversal back above the 1815.10 figure (August, 2022 contract) - if seen at any point - would be our best indication of a turn higher with the same, thus making this a key level heading into the new week.
...
More Gold Price Forecasts
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...
In the Extra Gold & Silver Trading Alert that I sent over the weekend, I explained why Friday’s upswing was most likely unsustainable. We didn’t have to wait long for the market to agree with me.
A price jump on a given day doesn’t necessarily mean you should give up your short position or go long. Let’s look at the context by examining what happened in the junior mining stocks.
Last week's trading saw Gold holding weaker into mid-week, here dropping down to a Wednesday low of 1830.20. From there, however, a sharp rally was seen into late-week, with the metal hitting an early-Friday high of 1878.60 - before backing off the same to end the week.
Practically nothing changed on the technical side of things in the precious metals market yesterday or in today’s pre-market trading, so everything that I wrote yesterday remains up-to-date. In particular, the USD Index rallied from my previous downside target area.
We have reason to believe that bitcoin and cryptocurrency investors are about to shift their investment strategy toward the precious metals, and that change should cause a notable influx of capital into the gold and silver sectors.
Last week's trading saw Gold forming its high in Tuesday's session, here doing so with the spike up to the 1875.30 figure. From there, a downside consolidation was seen into Thursday's session, with the metal dropping down to a low of 1842.50 - before bouncing off the...
The medium-term outlook for the precious metals is profoundly bearish – and it’s about time to abandon the short-term bullish ship. To find out why, let’s take a look at what happened in junior mining stocks.
Gold prices have plunged nearly $300 since peaking in March. The chart is building a bullish hup-with-handle pattern supporting a breakout above $2000 later this year.
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
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...
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...
Nearly 40 percent of all gold ever mined was recovered from South African rocks.
Latest Gold Analysis
