Latest Gold Price Forecast & Predictions
Gold Price Now:
USD
$1,792.18
+2.28
+0.13%
Recent Changes
| Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
|---|---|---|---|---|---|
| Change | +0.53% | +0.13% | +1.46% | +0.34% | +3.10% |
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: April 20, 2021
Gold Forecast Short Term
Bullish
Price Drivers for next 6 weeks:
US dollar, inflation data, Fed reserve meeting, flattening/lowering real yields.Gold Forecast 1 Year
Bullish: $2,075
Medium-term price drivers:
US dollar, stock market crash will pull/keep metals rom rocketing higher, retest of 2011 all-time high, real interest rates, safe haven appeal.Gold Forecast 3 Years
Bullish: $2,725
Long-term price drivers:
US dollar, central bank monetary debasement, growth of the money supply, MMT, negative real interest rates, yield curve control, safe haven appeal.Featured Gold Price Forecasts
After a prolonged decline, gold miners are showing signs of strength. The analysis below supports an immediate breakout and renewed uptrend in precious metals and miners. If all goes well, gold prices should work their way back to the $2000 level by August.
Gold investors need to have nerves of steel. Corrections in this space are trying events due to their duration and severity. The last 8-months were no exception. Investor sentiment reached downright despair in March, and that sealed the bottom. If you are still standing - congratulations!
Daily Gold Chart
Gold is confirming a double bottom breakout, and prices should begin to stairstep their way back towards the $2000 level, possibly by August. I continue to see deep value in gold miners and believe they will outperform metal prices moving forward.
Gold Monthly Chart
Below is the Monthly chart. Gold broke above the 6-year base and confirmed a new bull market in 2019. Prices have pulled back to the 20-month moving average (first test in a new bull market). The last time this setup occurred was in 2004.
I believe gold will reach $8500+ later this decade - with a real chance...
Gold continues to trade weakly. The precious metal is down $13 for the month of March, $180 thus far in 2021, and some $374 since the all-time high of $2,074 was recorded in the spot market in August of last year.
That said, what is in store for the second quarter of 2021 and beyond?
While we do not have a crystal ball, we can make a high-probability assessment for where gold may bottom based on a study of where large buyers have emerged during recent years.
Gold’s Recent History
To look for high-probability bottom zones for gold, let us study the price action from 2018 through present:
Above we can notice certain critical points:
- The correction which began in August 2020 at $2,074 per ounce has featured a steady series of lower-highs and lower-lows. This overlapping price action is corrective in nature.
- Importantly, gold’s peaks have been declining at a steeper slope than its lows. In other words, buyers are emerging at relatively higher intervals than the sellers. This is a bullish indication. We can see that this converging correction is thus taking the shape of a bottoming wedge (blue), which has an apex in June 2022.
- Gold has a primary rising trend of support (solid blue), which...
More Gold Price Forecasts
Gold rallied visibly yesterday as the USD Index gave away some of its Friday’s gains, and this sparked questions about whether this is actually bullish for gold. And rightfully so, after all, if a given market reacts to what it shouldn’t react to, it often tells us...
In other words, how much is gold really worth? If we believe that gold is money, then we likely will have a different opinion or expectation than someone who sees gold as an investment; or someone else who deems gold to have no useful value.
Last week's trading saw gold holding in consolidation mode for the greater-majority of the week, before forming both its high and low in Thursday's session. The high was made at the 1789.90 figure (June, 2021 contract), before dropping down to a bottom of 1754.60. From...
The S&P GSCI Index is strongly correlated with the price of gold. When the USDX goes up, the former does the exact opposite - and gold may follow.
Last week's trading saw the gold market forming its low again into Tuesday's session, here doing so with the tag of the 1763.50 figure (June, 2021 contract). From there, a firm push higher was seen into Wednesday, with the metal running all the way up to a peak of 1798...
Even though gold “could have, would have, should have” rallied given USD’s decline, it ended yesterday’s session lower. Why? Because it wants to slide.
Last week's trading saw gold forming its low in Tuesday's session, here doing so with the tag of the 1723.20 figure (June, 2021 contract). From there, a sharp rally was seen into late-week, with the metal running all the way up to a Friday peak of 1784.70 - also...
It’s uncanny how the USDX is mirroring its 2017-2018 moves. This remarkably similar pattern is a strong indicator of the dollar’s rising strength. And as we all know, a strong dollar does not bode well for gold.
Last week's trading saw gold forming its low in Monday's session, here doing so with the tag of the 1721.60 figure. From there, strength was seen into later in the week, with the metal pushing all the way up to a Thursday high of 1759.40 - before backing off the same...
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...
Founder @ Lyn Alden Investment Strategy
Lyn Alden has a blended finance and engineering background, and is the founder of Lyn Alden Investment Strategy. She specializes in long-term value investing with a global macro overlay.
More...
Gold's special properties mean that it has a greater variety of uses than almost any metal.
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