Latest Gold Price Forecast & Predictions
Period | 2 Days | 3 Days | 1 Week | 2 Weeks | 1 Month |
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Change | +1.71% | +2.50% | +3.10% | +3.56% | +9.95% |
Gold Price Forecasts - Analyst Predictions
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Featured Gold Price Forecasts
The Federal Reserve plans to scale back Quantitative Tightening, currently set at $95 billion monthly, sparking a surge in the price of gold.
As FOMC members uphold their expectation for three rate cuts in 2024, there is ongoing deliberation among some regarding the potential for only two.
Gold spiked to $2225 mid-week, prompting some to take profits. I expect prices to reach $2500+ before the next major correction.
Interest Payments
Personal interest payments (blue) exceed wages (red) by a large margin. The last time debt payments surpassed wages were ahead of the 2008 financial crisis.
Source: https://twitter.com/SamanthaLaDuc/status/1770791896559800526/photo/1
State Coincident Index
The Philly Fed estimates economic activity per State. Only 20 states are showing increasing activity, implying that 30 states are in decline. Historically, this level supports a recession.
After almost 4 years of going nowhere gold has this month broken out into what looks set to be by far its biggest bullmarket to date, and it would be surprising if it wasn’t given the fundamental outlook which is for currency and societal collapse, implosion of the debt and derivatives markets and war and general chaos and mayhem as the prelude to an intended global government involving the imposition of the CBDC (Central Bank Digital Currency) system as part of a total control grid.
Fortunately for investors the situation is now very clear with respect to gold and gold investments and easy and simple to elucidate.
Our very long-term chart going all the way back to the start of the year 2000 shines a giant searchlight on gold’s situation, quickly revealing that beyond the great 2000’s bullmarket, the price has marked out a fine example of a gigantic Cup & Handle base which is of such a magnitude that it can support a massive bullmarket, which as mentioned above is likely to be of unprecedented proportions. The reason for this update now is that it has just this month, at last, broken out of the top of this completed base pattern, so for investors in the sector there is still almost everything to go for.
Now we will zoom in to examine the latter part of this gigantic base pattern using a 5-year chart, which shows the strong rally in 2019 and 2020 to form the right side of the Cup and then the lengthy Handle trading range that followed which continued right up to the end of last month. This chart makes clear the importance of the resistance level marking the horizontal upper boundary of the Handle trading range, as the price got turned back from the $2050 - $2100 level on four occasions but the last time...
As mentioned in my last article back in February, Gold was in a correction phase - but was into bottoming territory, as represented by a key cycle that we noted at that time. That cycle ended up troughing with the February 14th tag of 1996.40, and with that should be headed higher into April - before another key top attempts to form.
Gold's 72-day Cycle
From the comments made some of my past articles, the next low of significance was expected to come from the most dominant cycle in the Gold market, our 72-day wave - which is shown again on the chart below:
This 72-day cycle component was projected to bottom into the late-January to mid- February region - as per the path suggested by our 72-day detrend indicator. Its actual bottom came in with the February 14th tag of 1996.40 (April, 2024 contract). This action was confirmed by taking out a key upside price reversal figure for Gold.
From my 2/18/24 article: "in terms of price, we have a key...
More Gold Price Forecasts
In the midst of the recent gold and silver rally, Goldman Sachs has just updated their year-end gold target to $2,300. And suggested that the move will re-activate 'dormant ETF buying.'
The next big surge in gold has started, and sub-$2000 pricing may be a thing of the past. A $1 billion capital injection saved New York Community Bancorp mid-week; was that enough to arrest its decline?
Precious metals and miners toppled after huge gains in employment: January non-farm payrolls jumped 353,000 versus the expected 180,000. The Fed confirmed it was done hiking on Wednesday, but Powell pushed back on the potential for rate cuts.
The multi-week correction in precious metals and miners should terminate shortly. Once completed, we see gold surging above $2100 to new all-time highs. Precious metals typically rally in presidential election years – 2024 should be no different.
With the action seen over the past month, Gold has been locked inside an expected correction phase, with the U.S. stock market still inside a larger 'vacuum' period - one which will take us into the next 'kill zone' date for that market.
Gold mining companies are historically undervalued compared to gold itself. While there are never any guarantees in the investment world, should gold indeed break out to new all-time highs in 2024, the potential exists for a tremendous revaluation higher for the...
Gold is correcting as the dollar bounces - we see prices bottoming later this month. I've included preliminary price targets in the charts below. Record fund flows into the S&P 500 ETF support elevated complacency among investors, and multiple factors support a...
With the overall action in the markets, I wanted to take a look at the cyclical position of U.S. stocks this weekend, as well as to take a quick look at the picture for the Gold market - with the latter looking for additional weakness into early next year.
On Wednesday, the Fed confirmed they were done hiking rates - metals and miners jumped on the news. The pivot from tightening to loosening is precisely what gold needed to trigger the next big run. The gold train is leaving the station and the days of buying 1 ounce...
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.