A quarterly survey conducted by Reuters on Wednesday revealed that gold prices are on track to reach unprecedented record levels by 2025, driven by increasing geopolitical and trade concerns, along with a falling value of the US dollar.
According to the survey, which included 29 analysts and market traders, the average annual gold price is expected to reach around $3065 per ounce this year, compared to $2756 in the previous quarter's survey.
Expectations for the gold price in 2026 have also been raised to $3000, up from only $2700. This notable increase follows a 25% gain in spot gold prices since the beginning of the year, which is close to the annual gains of 27% expected for 2024, with the average price of bullion reaching $2952 so far according to London Stock Exchange data.
The upward momentum in gold prices appears to be partially driven by increasing concerns over the ongoing trade war between the United States and China, prompting investors to turn to gold as a safe haven. Gold surpassed the $3000 mark for the first time in March, subsequently reaching $3500, before retreating to $3273. However, analysts believe that gold will remain supported by fluctuating political and economic factors, especially continued purchases by central banks.
Regarding silver, Reuters predicts that its average price will be $33.10 per ounce in 2025, unchanged from the previous survey, with hopes for improved industrial demand amid the global shift towards clean energy and increased use of silver in artificial intelligence and technology sectors.
