Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$1,660.60
0.00
0.00%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | -0.11% | +0.39% | +1.02% | -0.87% | -2.30% |
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 30, 2022
Gold Forecast Short Term
Sideways
Price Drivers for next 6 weeks:
Dollar Index & FOMC decision, support at 1,677.
Gold Forecast 1 Year
Bullish: $1,800
Medium-term price drivers:
US dollar, inflation data, fed interest rate hikes, weak investor sentiment in general until bear market ends in stocks.Gold Forecast 3 Years
Bullish: $2,100.50
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
Financial stress indicators are flashing red as we head into October. Markets seem vulnerable to something breaking, perhaps in the credit markets. Gold could dip a little further, but the charts are lining up for a repeat of the 2018 bottom.
Gold 9-Months Ago
In March, Gold was above $2000 and on its way to new highs. Prices did an about-face out of nowhere, and it's been downhill ever since. What changed? Answer: Aggressive Fed tightening.
The Fed Early This Year
Back in January, the Fed was injecting $60 billion a month into the markets via Quantitative Easing (QE), Fed funds were between 0% to 0.25%, the 2-year Treasury was yielding 0.78%, and Powell expected one or two 0.25% hikes for 2022.
The Fed Now
They are withdrawing $95 billion a month in QT, Fed funds are at 3.00% and rising, the 2-year yield hit 4.30% (up 352 basis points), and their forecast for two 0.25% hikes was laughable – they are on pace to reach sixteen (16) by year-end.
When Will Gold Bottom?
With the Fed...
Gold and silver are in bear markets.
Why? The market-perceived reaction by the Federal Reserve to quash inflation by raising interest rates.
Whether or not the Fed is ever successful at bringing inflation down is immaterial – the market believes that the Fed will be successful, and the market is selling gold as a result. Those who disagree with the price action of the market itself will do so at their own peril over the coming years.
Precious metals investors should temper their expectations for higher prices, and take appropriate defensive action.
Gold Breaks Lower
Below is the chart of gold from 2003 through present.
Gold has just broken lower from a pattern which was last triggered in 2013, following which it fell by nearly $500 over the next three years.
Note the breakdown (red callout) of the 2.5-year consolidation (black lines) above the $1,676 level. Gold has officially broken lower through this support.
The last time that gold witnessed a breakdown of this magnitude was in 2013. Between 2011 – 2013, gold consolidated in a range between $1,522 - $1,919, an amplitude of $397.
When gold broke lower through this consolidation in 2013 (red callout), we calculated a target of...
More Gold Price Forecasts
Although small corrections in the gold and silver markets do happen, they will not cover up the bearish outlook for them, especially junior miners.
Last week's trading saw Gold peaking on Wednesday's fed day, with the metal pushing up to a high of 1696.90. From there, a drop back to lower lows for the swing was seen into late-week, with the metal hitting a Friday bottom of 1646.60 - before bouncing slightly off...
If you read my Monday’s and/or Friday’s analyses, you know that the markets expect the rates to be increased by at least 0.75% this week. As they are increased by 0.75%, some market participants are likely to be surprised, and the overall implications could be bullish...
Last week's trading saw Gold forming its high in Monday's session, here doing so with the tag of the 1746.40 figure (December, 2022 contract). From there, a sharp decline was seen into late-week, with the metal dropping all the way down to a Friday low of 1661.90 -...
Last week's trading saw Gold forming its low in Wednesday's session, here doing so with the tag of the 1701.70 figure. From there, a decent rally was seen into late-week, with the metal pushing all the way up to a Friday high of 1740.50 - before backing off the same...
For the near-term action, Gold managed to turn higher into Friday's session, with the metal hitting an intraday peak of 1729.50 - before backing slightly off the same into the daily/weekly close. With that, there is the potential for an upturn in the 10 and 20-day...
The odds for another 0.75% Fed rate hike have risen to around 70% over the last week. This has pushed short-term interest rates and the dollar higher. Gold is slipping back towards critical support. Our cycle work expects one final dip into a September low.
Looking at the latest results of precious metals, it’s hard to cast out the impression that stocks are like a ball and chain for gold. Should we expect a repeat of the 2013 slide? In today’s analysis, I would like to draw your attention to something that’s extremely...
Last week's trading saw Gold forming its low in Monday's session, here doing so with the tag of the 1740.20 figure. From there, strength was seen into late-week, with the metal pushing up to a Thursday high of 1778.80 - before backing off the same into the weekly close.
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...
Small amounts of natural gold were found in Spanish caves used by the Paleolithic Man about 40,000 B.C.
Latest Gold Analysis
