Gold Price Prediction

Will Gold go up or crash? Read our Price Forecast

Last Updated August 10th 2022
15 Min Read

On the hunt for Gold prediction 2022 and beyond? You’re in the right place. We’ll be sharing the top Gold price prediction and forecasts. We’re taking a look at this asset to find out what the experts have to say about its future performance and how much it will be worth in the future. 

Have you ever considered investing in Gold? The precious metal is one of the most attractive assets in the commodity market. People invest in Gold for many reasons, but the majority of experienced investors use it as a hedging instrument. Some also buy and sell gold as the price fluctuates, all in a bid to make profits.

Regardless of why you want to buy gold, it is important that you know what the price of the precious metal will be in the future. Our gold price predictions and forecasts for 2022 – 2030 will help you get an idea of how the price of gold will change in the coming years. Hopefully, it will help you make an informed decision about trading Gold.

As our tradition demands, we are not going to rush you through some figures as gold price predictions. Rather, we are going to discuss key factors that you must consider with gold price forecasts before making a decision to buy the commodity. It is important that you read through the sections in this article carefully to get quality information to help you make quality investment decisions.

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Content

What You Need to Know About Gold as an Investment

Gold is treated as a commodity in the financial sector. It is in the same category as oil and grains, but it is different in many ways. One of the most spectacular things about gold is that it doesn’t get used up. Oil and grains, for instance, can both be used up or consumed. Gold, on the other hand, will stay in the world once it is mined. It may be used for different things, but it doesn’t get used up.

Gold is regarded as a permanent asset primarily because of its chemical composition. The precious metal is used in making jewellery, as well as in art. It can also be used in ingots or stored in a vault. However it is used, the chemical makeup remains intact. Gold cannot decay, rot, or corrode.

In terms of market value and economics, gold is highly regarded because of its permanent nature. The law of demand and supply hardly applies to gold because its supply is always rising and will never fall. Even if demand for gold declines, supply never drops. Even the price of gold is not often influenced by the law of demand and supply.

There are different ways to invest in gold. The wealthiest men in the past bought and store physical gold. A few individuals and many institutions still own gold bars too. For an average modern-day investor, there are two conventional ways to invest in gold:

You can invest in actual gold bullion through the stock market or you can invest in the shares of gold-mining companies.

Buying through the market is the most straightforward approach. It is also the approach that is in line with the objectives of these gold price predictions and forecasts.

What Factors Affect the Price of Gold?

Though gold cannot be classified as a volatile asset, its price still changes from time to time. Most times, the price of the precious metal is a reflection of economic situations, but there are key factors that affect its price. The major ones include:

Central Bank Reserves – Some countries have reserves in gold. Though the United States has abandoned the gold standard, most central banks build up reserves in gold. Increased demand for gold by central banks can result in an increase in its price.

Value of the U.S. Dollar – Gold is dollar-denominated, which means the value of the dollar will always have an effect on the price of the precious metal. A stronger dollar means the price of gold can be lower or properly controlled. A weaker dollar, on the other hand, will result in an increase in the price of gold.

Jewellery and Industrial Demand – Demand for gold from jewellery makers and other companies that use gold in their products can affect the price of the metal. A significant increase in demand can result in an increase in price.

Wealth Protection – Gold is mostly used as a hedge against inflation. During times of economic uncertainty, many wealthy people turn to gold to protect their wealth. The higher the demand for gold for wealth protection, the higher the price can become.

Investment DemandExchange-traded funds (ETFs) and other investment vehicles also purchase gold for several reasons. The higher the demand from this sector, the higher the price of the precious metal.

Gold Production – Though the supply of gold never drops, an increase in production can also affect the price of the precious metal significantly. The more gold is mined, the better it will be for the price to remain stable. Disruption in gold mining can result in an increase in price. 

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Gold Price History

Now that we have decent background information on gold and a decent section on the factors that affect its price, it is time to discuss its price history. Since the precious metal is not as volatile as stocks and other investment vehicles, we will try to be as brief as possible here.

Gold has been around for several years, but our historical data starts from 1969 when gold opened at $41.80 and closed at $35.21. In 1973, gold opened at $64.99, reached a year-high of $127.00 and closed at $112.25.

In 1974, gold opened at $114.75 and closed at $187.50, after recording a 67.04% gain. In 1975 and 1976, the price of gold dropped by 25.20% and $4.06%, respectively. In 1977, it picked up again, gaining by 23.08%. The next big year was in 1979 when gold opened at $227.15 and closed at $524.00. The price improved by 12.50% in 1980 and dropped by 14.84% in 1981. The price also dropped in 1983 and 1984.

In 1985, gold opened at $306.25 and closed at $327.00. It grew by 19.54% in 1986. In 1987, gold opened at $402.40, reached a year-high of $502.75 and closed at $486.50.

Gold went on a bearish run from 1988 to 1993. In 1993, it recorded a 17.35% growth, opening at $360.05 and closing at $390.65. The price also declined in 1994, recovered a little in 1995 and went on another bearish run in 1996, 1997, and 1998. In 1999, gold opened at $288.25 and closed at $290.85. The 1.18% increase in 1999 was followed by a 6.26% price drop in the year 2000.

Gold went on one of its longest bullish runs in recent times from 2001 to 2012. In 2001, it opened at $272.80, reached a year-high of $292.85 and closed at $276.50, recording 1.41% growth in the process. In 2002, gold opened at $278.10, reached a high of $348.50 and closed at $342.75. The massive 23.96% growth in 2002 was followed by 21.71% growth in 2003, 4.97% growth in 2004, and 17.12% growth in 2005.

In 2006, gold recorded a 23.92% growth in price. In 2007, 2008, and 2009, the precious metal gained by 31.59%, 3.41%, and 27.63%, respectively. Gold also reached the $1000 mark for the first time in 2008. In 2010, gold opened at $1113.00, reached a year-high of $1426.00 and closed at $1410.25. In 2012, it opened at $1590.00, reached a year-high of $1790.00, and closed at $1664.00.

Gold price dropped consecutively in 2013, 2014, and 2015 by 27%, 0.19% and 11.59%, respectively. In 2016, it opened at $1075.20 and closed at $1151.70. In 2017, it opened at $1162.00 and closed at $1296.50 after reaching a year-high of $1351.20. It recorded a slight drop in 2018, opening at $1312.80 and closing at $1281.65.

In 2019, gold opened at $1,287, reached a year-high of $1543.60 and closed at $1523.00. In 2020, the precious metal opened at $1520.55, reached a year-high of $2058.40 and closed at $1895.10. It dropped a little in 2021, opening at $1946.60 and closing at $1828.60 after reaching a year-high of $1954.40.

gold historical price chart

Gold Price Predictions

Now that you can see how the price of gold has changed from 1969 to the present day, it is time to move to gold price predictions and forecasts for the coming years. You should know that price predictions and forecasts are not prophesies, rather, they are forecasts made after technical analysis of price data, considering other market factors.

As a long-term investment, it projects that gold could perform very well. According to its predictions, the value of the Gold could rise to $2,500 by the very end of 2022, rising to $2,750 in 2023, and achieving a mean price of $3,000 by 2025.

To discover some of the top gold price predictions per ounce in USD, you’re in the right place. We’ve compiled a list of the most compelling short and long-term forecasts from 2022-2030, helping you to decide whether gold could be a genuine gold mine for you. 

Read More: Learn How to Trade Gold Online

Gold Price Prediction for 2022

Already, we have stated that gold opened in 2022 at $1,800.10 per ounce and that it was trading for $1,966.00 per ounce at the time of writing this piece. How far can the precious metal go in 2022?

According to our technical analysis, gold is expected to gain more as the months roll by in 2022. Even if it should drop at some points, we expect that the minimum price it will reach this year will be $1,785 and the maximum it will reach will be around $2,536.

Gold Price Monthly Predictions for 2022

Are you planning to start investing in gold this year, 2022? Then you need to get an idea of how the price of the precious metal can change in the coming months.

As per our gold price monthly forecast for 2022, we expect the price to improve more before the end of March. In April, our data shows that gold will likely open at $2,091 and close at $2,221. In May, our forecast shows that gold should open at $2,221 and close at $2,359.

In June 2022, gold is expected to open at $2,359 and close at $2,323. In July, we project that the precious metal will open at $2,323 and close at $2,383. The price will likely drop a little in August as gold is expected to open at $2,383 and close at 2366. In September, we predict that gold will open at $2,366 and close at $2,415.

In October 2022, the price of gold is expected to be between $2,255 and $2,459. We project that it will open at $2,415 and close at $2,342. In November, it will open at $2,342 and close at $2,347. In December 2022, we project that gold will open at $2,434, reach a high price of $2,511 and close at $2,391.

Gold Price Prediction for 2023

In 2023, there is a possibility that the price of gold will drop slightly. Of course, this can be in response to significant growth in 2022 but other factors may contribute to it. There is also a possibility that the price of gold will not drop in 2023, but our analysis shows that this may be the case.

As per our gold price predictions and forecast for 2023, it is expected that the precious metal will be priced at around $2,286 by the end of June. In the second half of the year, we project that gold will record a noticeable gain to finish the year at about $2,355.

Gold Price Prediction for 2024

By 2024, we expect the price of gold to improve by up to 40%, compared to the current price. Of course, this will also depend on whether the precious metal trades within the region we predicted for 2023. Based on other market factors, there is no reason why it shouldn’t reach this height.

As per our gold price prediction 2024, we estimate that the precious metal should be priced at about $2475 within the first six months of the year. Our forecast also shows that gold will be priced at about $2,766 by the end of 2024.

Gold Price Prediction for 2025

As long as the commodity market is concerned, we believe that 2025 will be a good year. According to our forecast 2025, gold value will finally reach the $3,000 mark. Of course, this will not happen within the first few weeks of the year.

According to our gold price prediction, the precious metal should perform well throughout 2025. Within the first six months, we project that it will be traded at around $2,977. It will then grow further and eventually close the year at $3,094.

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Gold Price Prediction for 2026

Based on what we have seen so far, there is no reason to believe that the price of gold will depreciate in the nearest future. Therefore, we also expect the price to improve in 2026. Within the next 4 years, it is likely that gold will establish support at $3,200.

Within the first six months of 2026, we project that the price of gold will reach $3,290. It will then improve significantly within the last six months, before closing at $3,441. It is also possible that the price of gold will reach $3500 in 2026, but it will likely reach a resistance level shortly before that.

Gold Price Prediction for 2027

Have you ever wondered what the price of gold will be in the next five years? Our gold price forecast shows that it can be up to $4,000 per ounce. Based on gold’s price history, this is an absolute possibility. The precious metal should establish support at about $3,500 within the first two or three months of 2027.

Asp per our gold price forecast for 2027, the price of the precious metal should be in the region of $3,723 by mid-2027. Within the last six months of the year, the price is expected to improve significantly, and the precious metal will likely reach $4,002 by the end of the year.

Gold Price Prediction for 2028

Based on our technical analysis, the price of gold may not go up too well in 2028, especially within the first six months. However, our forecast doesn’t show that the precious metal will drop. We project that even if the price shall fall, the minimum price throughout the year will be around $4,000.

Based on our analysis, the price of gold should be in the region of $4,008 by the end of June 2028. Within the last six months of the year, it is projected that the price will improve slightly and that gold will trade at $4,266 by year-end.

Gold Price Prediction for 2029

By 2029, our projection shows that gold must have recorded as much as 125% price growth or even better. If that is going to be the case, then the minimum price of the precious metal for the year will not drop below $4,200.

As per our proper gold price prediction for 2029, it is projected that the precious metal should trade for about $4,306 by the end of June 2029. It will then improve significantly within the last six months of the year. The year-end price is projected to be $4,467.

Gold Price Prediction for 2030

We understand that 2030 is an important year for those who may want to invest now, and our analysis shows that the price of gold must have improved by as much as 139% before the end of 2030.

According to experts, the price of gold should be in the region of $4703 by mid-2030. From July to December 2030, the price is also expected to improve too. There is a good chance that gold will reach $4,800 in 2030, but it will most likely be priced at $4,751 at the end of 2030.

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Should You Invest In Gold?

Gold is one of the most reliable stores of value. It is regarded by many as the most precious metal and one of the most valuable natural occurring elements. It doesn't spoil and it doesn't get used up. The value of gold is also relatively stable. There are always higher chances of the value improving than the chances of it decreasing.

There is almost no reason at all to think twice about investing in gold unless you are looking for a short-term investment. From our forecasts, you can tell that the price of gold will improve in the coming years. Buying the precious metal will be a good way to build and protect wealth.

Based on everything we have covered, we can conclude that investing in gold is a good move. Gold is one of the assets that can serve as a real hedge against inflation. It is also one of the best investment options for patient investors who are ready to wait for several years before cashing out.

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FAQs about Gold Investing

Are you ready to start investing in gold but have a few more questions on your mind? Here are some of the commonest questions we get about gold investments:

Is gold a profitable investment?

Yes, gold is a profitable investment. Considering its price history, you can see that the value has been improving for decades. Based on our forecasts, the value will even improve further and gold will yield meaningful profit for investors.

Is gold a good investment for the future?

A: Yes, gold is a good investment for the future. It doesn’t decay or get corrupted in any way, and the value hardly drops.

Will the price of gold go up in 2022?

According to almost all the predictions that we’ve included in this article, the price of gold is not likely to go down in 2022. Many analysts believe its current bull run will continue throughout the year, with potential price targets including $2,267 and $2,516. 

Does the price of gold ever drop?

Yes, the price of gold can drop every once in a while. However, price drops are always minimal and the chances of gains are always higher than the chances of losses.

Does the price of gold rise fast?

The price of gold rises pretty fast but not as fast as some other investment vehicles. In terms of yielding returns, gold investments grow at a competitive pace.

Can the price of gold crash?

No, the chances of the price of gold crashing is almost non-existent. Based on historical data and our predictions, this will never happen.

What will gold be worth in the next five years?

For our long-term gold price prediction, we’re returning to WalletInvestor. After predicting a maximum price of $2,351 for 2022, what does it believe could happen to its value between 2023 and 2027? The platform has given the following minimum and maximum prices for gold asset for the next five years: 

Year High Low
2022 $2,351 $2,097
2023 $2,612 $2,357
2024 $2,879 $2,617
2025 $3,143 $2,883
2026 $3,756 $3,014
2027 $4,127 $3,256

 

What will be the price of gold in 10 years’ time?

According to our forecast, gold should be worth between $5,000 and $5,300 in ten years’ time. That's is approximately a 167% rise in price within a decade.

Will gold reach $10,000 in the future?

Gold can hit the  $10,000 mark in the future. However, we expect that it will take several years for that to happen – decades, most likely.

Is gold a risky investment?

Gold cannot be categorically classified as a risky investment. Though the price can go up and down from time to time, gold is not really a volatile asset. It is considered a safe investment and one of the best hedges against inflation and economic downturns.

What is the easiest way to invest in gold?

There are different ways to invest in gold but the most secure way for regular investors is the stock market. There is a handful of online platforms that allow users to trade gold and eToro is one of the best.

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