Even the start of 2025 is shaping up to be a banner year for gold, we still have most of it ahead of us. Well, it's worth taking a look at the predictions of leading analysts to determine whether we are entering another golden year.

 

Rohit Savant (CPM Group LLC)

Analyst Rohit Savant states the uncertainty will continue to dominate this year. Several political and economic risks support gold’s price growth. According to him, these risks are more likely to increase rather than decrease, making gold an attractive portfolio diversifier.

Central banks could also play an important role, as Savant expects them to remain strong buyers of gold. As a result, he estimates a gold price around $3,150 per troy ounce.

 

Chantelle Schieven (Capitalight Research)

The same factors that drove gold’s price increase in 2024 will likely continue to the same this year, according to Chantelle Schieven of Capitalight Research. The most critical among them are central bank demand and geopolitical uncertainty. „Gold can experience sharp price surges due to crises at any time in the coming years“, Schieven states. Increased economic and financial instability could lead markets to question governments’ ability to manage high levels of debt. This, in turn, could raise concerns about their capacity to handle any additional crises, such as a pandemic or military conflict.

She emphasizes that growing debt undermines the U.S. dollar but also weakens other currencies. Investors will thus seek safe assets more than ever. According to her, gold could climb as high as $3,290 per troy ounce this year.

 

Bernard Dahdah (Natixis)

Due to tariffs introduced by Trump, which could contribute to inflation, interest rate cuts may be less aggressive. Bernard Dahdah predicts that gold prices will continue to rise, although possibly at a slower pace than last year. According to him, efforts to reduce dependence on the U.S.dollar will persist in countries unfriendly to the Western block. This is primarily due to concerns arising from the freezing of Russian assets following the Ukraine invasion.

Dahdah identifies three key factors driving gold prices: Federal Reserve interest rates, central bank demand, and Western investor demand. He estimates gold’s peak value at $3,200 per troy ounce.

 

Nicky Shiels (MKS PAMP SA)

Analyst Nicky Shiels notes that gold’s price movement will not be as one-directional as in the previous year. The peak of political fear has passed after Trump’s victory, reinforcing the U.S. focus on deregulation, tax cuts, and tariffs. She also sees a significant impact from global moves away from the U.S. dollar. The future direction of gold, she explains, depends primarily on whether the Federal Reserve is ahead of or behind what she calls the “Trumpflation curve”- meaning whether real interest rates will fall, leading to a “weaker” dollar.

Overall, she expects chaotic and unpredictable policies, along with an unsustainable global debt load, to create a strong environment for gold. Historically, gold has remained a key portfolio diversifier and a safe-haven in such conditions. She predicts that gold could stabilize at approximately $3,200 per troy ounce this year.

 

Analysts Agree

Each year, the LBMA publishes a summary of major analysts’ predictions. This year, the vast majority of respondents agree that gold could remain above the $3,000 per ounce level. However, they caution that the growth may not be as smooth and consistent as it was in 2024.

What Can You Do?

If price volatility worry you or you simply don’t have time to track analyses, you can benefit from the positive effects of dollar-cost averaging. By investing a fixed amount in gold every month, you can reduce market volatility and ensure that, over the long term, you’ve secured the best possible average purchase price.