With gold hitting an all-time high this year, the big question on everyone's mind is how high gold will go and what is the gold value forecast?
So...
Luckily, we've got a lineup of heavy hitters in the precious metals game, each with their own crystal ball and gold price predictions to share.
Of course, no one can reliably predict where the market is headed; but think of it as a peek behind the curtain, a chance to see what the experts are thinking and maybe even get a glimpse into the future of gold prices.
Without further ado, let’s get started.
Robert Kiyosaki
$3,700 per ounce in 2024; $5,000 in 2025
Robert Kiyosaki, a renowned author and investor, is known for his contrarian views and insights into wealth creation and preservation.
With a keen eye for economic trends and market cycles, Kiyosaki's forecasts offer valuable insights for precious metals investors.
Kiyosaki presents a nuanced forecast for gold prices, predicting them to reach $3,700 in 2024 and $5,000 in 2025.
He tweeted the following:
"Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin people’s $. Take care."
His forecast reflects a blend of caution and optimism, grounded in concerns over potential economic downturns and monetary policy interventions.
Compared to more conservative projections, Kiyosaki's outlook stands out for its pragmatic assessment of the economic landscape and its potential impact on gold prices.
Jim Rickards
$15,000 per ounce by 2026
Jim Rickards, a seasoned financial commentator and author, brings a wealth of experience and insight to the table.
Known for his contrarian views and in-depth analysis, Rickards' forecasts often prompt thoughtful discussion and debate within the financial community.
Rickards boldly forecasts gold prices to reach $15,000 per ounce by 2026. According to him:
“That’s not a guess; it’s the result of rigorous analysis."
He uses the two previous precious metal bull markets as a comparison for the current one.
The bull market from 1971 to 1980 saw gold rise from $35 to $800, an increase of 2,200% in 9.4 years.
While the bull market from 1999 to 2011 saw the gold price increase from $250 to $1,900, up 670% in 12 years.
The current bull market began in 2015, when the gold price bottomed at $1,050.
According to Rickards:
“If we take a simple average of the price gains and durations of the two prior bull markets in gold, we arrive at a 1,435% gain over a period of 10.7 years.
Applying that gain and duration to a baseline of $1,050 per ounce beginning in December 2015 leads to a gains projection for this bull market of $15,070 per ounce by August 2026.”
Wells Fargo
Gold price prediction 2024: $2,200 per ounce
Wells Fargo, a financial juggernaut, stands as a key player in shaping market sentiment and trends.
With a reputation for insightful analysis, their forecasts often carry significant weight in the financial world. In the realm of gold prices, Wells Fargo's projections serve as a barometer for investor sentiment and market expectations.
Wells Fargo offers a conservative forecast for gold prices, expecting them to reach $2,200 in 2024, according to their analysis.
This projection hinges on the anticipation of interest rate reductions by the Federal Reserve, which is anticipated to drive demand for safe-haven assets.
Compared to bolder predictions in the market, Wells Fargo's forecast remains cautious, reflecting a measured approach to gold investment amidst uncertain economic conditions.
Peter Schiff
Gold price prediction 2024: $5,000 per ounce
Peter Schiff is a stalwart figure in the world of finance and a vocal advocate for alternative investments, particularly gold.
With a track record of bold predictions and contrarian views, Schiff's forecasts often draw attention and debate within financial circles.
Schiff boldly forecasts gold prices to soar to $5,000 in 2024.
According to him:
"Gold is going to be a beneficiary of the currency crisis, which is inevitable at this point."
His prediction reflects a steadfast belief in the enduring value of gold as a hedge against economic instability.
Compared to more conservative forecasts, Schiff's outlook stands out for its optimism and conviction in the long-term prospects of gold.
Bloomberg Intelligence
$7,000 per ounce in the next few years
Bloomberg's gold price predictions for the next 5 years is $7,000 per ounce.
Bloomberg Intelligence, known for its comprehensive analysis and data-driven insights, provides a unique perspective on market trends and dynamics.
With access to extensive resources and expertise, their forecasts carry significant weight in shaping investor sentiment.
Bloomberg Intelligence presents a bullish outlook on gold prices, with analyst Mike McGlone predicting a rise to $7,000 in the next few years.
McGlone believes that:
"The bullish stock market is coming to an end and that the Fed will eventually shift monetary policy and increase the money supply, which will favor the gold market."
Compared to more conservative projections, Bloomberg Intelligence's forecast stands out for its boldness and anticipatory perspective on the evolving economic landscape.
Nicoya Research
Gold price prediction: $4,200 per ounce by 2025
The founder of Nicoya Research, Jason Hamlin, is a market research professional with over 15 years of experience in brand management, analytics, and business consulting, and he brings a unique blend of historical analysis and forward-thinking insights to the table.
With a focus on macroeconomic trends and market cycles, Nicoya Research offers a compelling forecast for gold prices, expecting it to reach $4,200 per ounce by 2025.
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Hamlin said that:
"The last gold bull cycle propelled the gold price up by roughly 6x. If the current advance comes in similar, we can expect the gold price to continue above $6,000 per ounce during the current cycle.”
His prediction stands out for its optimism and long-term perspective on the potential trajectory of gold prices.
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Next.
Bank of America
Gold price prediction 2024: $2,400 per ounce
Bank of America, a stalwart in the banking sector, offers comprehensive analysis and insights into various asset classes, including precious metals like gold.
Led by Michael Widmer, the bank's metals research division provides valuable perspectives on gold price trends.
Michael Widmer believes the gold price could reach $2,400 if the Fed begins to cut rates in the first quarter. He also thinks central bank buying and unsustainable sovereign debt loads will have an impact on the gold price as well.
Widmer's forecast reflects a cautious optimism amidst economic uncertainties, aligning with other conservative projections in the market.
John Rubino
Gold price predictions for next 5 years: $5,000
John Rubino, a respected financial analyst, brings a wealth of experience and insight to the table.
Known for his bold predictions and contrarian views, Rubino's forecasts often spark debate and discussion within financial circles.
John Rubino thinks:
“Gold is going to be a beneficiary of the currency crisis which is inevitable at this point.”
He has a gold forecast of $5,000 to $10,000 within the next 3–5 years, viewing current gold prices as a floor.
Rubino's bullish outlook contrasts with more conservative projections, reflecting a conviction in gold's role as a safe-haven asset during times of economic turmoil.
Citigroup
Gold price prediction 2025: $3,000 per ounce
Citigroup, a global financial institution, offers insightful analysis and forecasts on various asset classes, including gold.
With a team of seasoned analysts, Citigroup provides valuable perspectives on gold price trends and market dynamics.
Citigroup analysts have a wildcard gold price forecast of $3,000 an ounce if the de-dollarization trend continues to gain momentum with central banks causing a “crisis of confidence in the U.S. dollar”.
Increased central bank demand has accelerated gold purchases to record levels according to the World Gold Council.
Citigroup's forecast reflects a recognition of evolving geopolitical factors shaping the gold market, aligning with broader market sentiment.
Pierre Lassonde
Gold price prediction 2024: $2,200 to $2,400
Pierre Lassonde, chairman of Franco Nevada, brings decades of expertise in the mining and precious metals industry. His forecasts offer valuable insights into gold price trends and market dynamics.
Pierre Lassonde has a gold price prediction of $2,200 to $2,400 per ounce in the medium term. He said:
“We are seeing the same pressure today on inflation as we saw back in the 1970s.”
His long term gold price forecast of $10,000, “should the Dow to gold ratio converge to 2:1 and the Dow Jones contract by 20%-30%”, reflects a holistic understanding of factors driving gold prices.
Lassonde's projections align with other moderate forecasts, reflecting a cautious optimism tempered by historical market trends.
Will Gold Prices Continue to Go Up?
So, will the gold prices continue to go up or will they go down?
One thing is clear:
As of this year, the outlook for gold is undeniably bullish.
But as you saw here, the diverse range of gold price predictions provided by influential investors and institutions reflects the complexity of factors influencing the precious metals market.
From conservative estimates to bold forecasts, each projection offers valuable insights into investor sentiment and market dynamics.
While some anticipate moderate gains driven by macroeconomic trends and central bank policies, others envision significant price surges fueled by geopolitical uncertainties and currency crises.
Ultimately, investors must weigh these forecasts against their own risk tolerance and investment objectives, recognizing the inherent volatility and unpredictability of the gold market.
Regardless of the outcome, pretty much everyone will agree that gold is a hedge against economic instability and a cornerstone of diversified investment portfolios.
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Now, I’d like to hear from you:
I know most of the people are not financial experts, but still share your thoughts in the comments below, it'll be interesting to see who'll get it right!
