Gold Price Forecast for 2024-2026 and Long-Term Prediction for 2030-2050 | BeatMarket (2024)

Gold — is the oldest financial asset. Over the millennia, it has lost neither its popularity nor its purchasing power. The price of an ounce covers the same set of goods as before Christ.

Gold was originally valued for its beauty and chemical properties. Nowadays, investors are interested in buying the precious metal because of its reputation. It is considered an instrument that can protect money from inflation.

The second reason for gold's popularity is its low correlation with stocks. Physical gold is one of the safe haven assets. This makes it an important component of a conservative portfolio. However, this factor is gradually receding into the background. Recently, the correlation has been growing compared to the indicators of the XX century.

• The long-term gold forecast 2050 is bullish. There are predictions that the price of an ounce may exceed $50 thousand.
• High demand is the main driver of quotations growth. It is observed both on the part of central banks and retail investors.
• The forecast for gold prices in 2024 is bullish. JP Morgan expects an average price of $2175 per ounce. Goldman Sachs experts - $2133.
• BeatMarket analysts are more optimistic. We believe that quotations are capable of exceeding the threshold of $2220-$2250 per ounce.
• The forecast for the next month is negative. In the opinion of Gov Capital, quotations will fall to $2010 per ounce by mid-February. This is the most likely scenario.

The price of gold is largely determined by the balance of supply and demand. But market expectations of a recession are making serious adjustments. The best time to invest in this metal is during periods of economic growth.

Growth

The quotations of the asset are now growing. The situation in the domestic and global market pushes the gold price upwards. Investors are inclined to buy the precious metal as they see it as a safe haven asset against a weaker dollar.

As long as the expectations of market participants do not change, the gold price predictions will remain positive for a long period of time. Therefore, at the present moment it looks like a strong asset. All indicators prove that it is reasonable to buy.

For predicting gold prices using technical analysis, traders look at the following factors and tools:

1. Candlestick patterns involve various combinations of bullish and bearish candles. Their size and combination allow for predictions about future price movements. For example, at the end of April 2024, a Bullish Hammer pattern can be seen on the 30-minute chart.
2. Oscillators, which are built under the chart, such as the RSI. At the time of writing this review, its value is 60.8. This indicates that the asset is not in an overbought zone, and further price growth is possible.
3. Indicators that are built on the chart, such as Bollinger Bands or Moving Averages. Depending on their position relative to the price line, conclusions are drawn about the presence of a trend. In April 2024, there is a pronounced bullish trend. The price is above the Moving Average value. The price chart tested breaking above the upper Bollinger Band.

For gold in May 2024, technical analysis tools are providing a bullish forecast. If the upward trend breaks, the support levels will be at the thresholds of $2145 and $2070.

However, technical analysis is not always accurate. A signal is considered more reliable if it is confirmed by multiple indicators.

Below is an overview of these most popular technical analysis tools. The recommendations to buy or sell gold are based on them.

Forecasts of gold quotations for the next week do not have a pronounced direction. A sideways trend is most likely. The asset will grow slightly or lose a little in price.

This moment is not the proper time to make investment decisions. Now there are no fundamental grounds for building up positions. At the same time, there are no factors that would clearly recommend selling gold. Such economic uncertainty is caused by high market volatility.

According to gold price predictions for next 5 years, a decline in quotations is possible. This forecast is due to a number of negative factors. Among them is a drop in gold demand. Investors can be provoked to cool down by the desire for more predictable results.

An important role is played by the growth of key rates. Many Central Banks have made such a decision. This makes the yield on government bonds much higher than in 2020-2022. Investors can lock in the profits made during the rally of recent years. And allocate the free money into debt securities.

Another argument for the negative outlook for the future of gold is the growth of the DXY index. Strengthening of the dollar always leads to a decrease in the quotations of precious metals.

Most analysts do not recommend building up positions in gold. In any case, investors with an investment horizon of 3-5 years.

2024 2025 2026 2027 2028

Leading analysts expect that gold prices will soon retreat from historical highs. Below is the average price for 2024 according to experts from various financial companies:

• $1,950 - the World Bank;
• $2,133 - Goldman Sachs;
• $2,000 - ABN AMRO;
• $2,200 - UBS;
• $2,300 - TD Securities.

Specialists at UOB hold a contrary view. They are confident that in 2024, gold prices will continue to rise and reach a new historical high. BeatMarket experts also do not anticipate a price decline.

The high cost of gold results from several factors:

• actions of central banks from various countries, which are increasing their gold reserves;
• interest from investors seeking a safe-haven asset for their capital;
• activity of speculators.

If the Federal Reserve lowers interest rates, the outlook for the gold market is bullish. Prices could reach $2,500 per ounce.

Goldman Sachs predicts gold prices at $1,971 per ounce. However, most analysts give a more optimistic forecast:

• up to $2826 - by the service Long Forecast;
• up to $3,012 - by the platform Coin Price Forecast;
• $2600-$2800 - by Gary S. Wagner from Fxempire.

The first two forecasts for gold in 2026 are made using mathematical models based on data from past years. The third takes into account fundamental factors but is made with the assumption that inflation and the Federal Reserve rate will return to the 2-3% level.

BeatMarket experts consider forecasts below $2000 overly pessimistic. In our view, bullish factors are affecting gold. Even in a negative scenario, prices will not fall below $2400.

At the end of the five-year cycle, experts forecast a wave of growth in gold quotations. Such optimism is due to:

• expectations of strengthening industrial demand;
• planned termination of the key rate hike cycle;
• persistence of inflation risks.

Quotes will be supported by the build-up of the U.S. government debt and related concerns.

Expert target prices range from $2,328 to $3,291. The lower levels are forecasted in the event of prolonged high interest rates and economic recession. The higher figures will be achievable in the event of a bull market and a relaxation of monetary policy.

Experts differ widely in their predictions for gold prices in 2028:

• Wallet Investor experts believe that the maximum price of an ounce will reach $2260;;
• Gov Capital analysts promise a rise in value to a range of $7726-$10450;;
• BeatMarket experts find real levels of $3500-$5000..

BeatMarket authors are moderately optimistic in gold price predictions for next 5 years. We believe that the cycle of interest rate reductions will shortly begin. In case of dollar weakening, gold will get strong support. Improving the macroeconomic situation will also have a positive impact on the market.

There is not a single reputable forecast of a sharp fall in the price of gold. On the 5-year horizon, the asset can be used to maintain and increase capital.

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