Gold Prices Forecasted to Surge to $2,900 by Early 2025

Goldman Sachs and other financial experts cite interest rate cuts, central bank purchases, and geopolitical tensions as key drivers.

Goldman Sachs has raised its gold price forecast to $2,900 per ounce for early 2025, up from $2,700 per ounce.
Spot gold prices hit an all-time high of $2,685.42 per ounce last week, driven by U.S. Federal Reserve rate cuts and Middle East tensions.
Experts predict gold prices will range from $2,600 to $2,800 per ounce in October 2024, continuing the upward trend seen this year.
UBS forecasts gold prices to reach $2,750 by the end of 2024 and $2,900 by the third quarter of 2025, supported by strong investment demand and a weakening U.S. dollar.
Central bank purchases and declining U.S. interest rates are expected to be major factors driving the rise in gold prices, with ETF flows also contributing.