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2025 Gold Outlook: What’s Next for the Price of Gold?

Gold bars stacked together with 2025 gold outlook text

2024 was a stellar year for gold investors. In fact, gold had its best annual performance in more than a decade, with gold prices surging more than 24%, and notching several gold all-time-highs along the way.

All this begs the question – what might this coming year hold for gold investors? Here’s our 2025 gold outlook.

The following is for informational purposes only and should not be considered financial advice. Speak with a qualified financial advisor to 

Many Commodities are Expected to Fall in 2025

Gold is a commodity, alongside things like crude oil, silver, or even corn. Global commodity prices are expected to fall somewhat in 2025, due to a strong dollar and a weakening global economy.

However, gold is expected to buck this trend, with many experts calling for strong performance from gold in 2025.

Gold Has Multiple Catalysts for Strong Performance

Nobody can accurately predict the future movement of any asset or commodity. With that said, gold does have some positive catalysts that may help it perform well in 2025.

Gold is often seen as a hedge against risk, particularly in times of economic uncertainty. Given the headwinds facing the global economy in 2025, gold’s role as a popular hedge could boost its demand.

Gold also tends to have an inverse relationship with interest rates. As interest rates fall, gold prices may also get a boost.

JPMorgan Calls for a Rally in Gold, Silver, Platinum

Analysts at JPMorgan, the largest bank in the world by market cap, are calling for gold prices to rise to $3,000 per ozt by late 2025. Based on current pricing, that would imply an increase of around 11%.

Silver is expected to fare even better. After lagging behind gold in recent months, JPMorgan analysts are predicting silver to rise nearly 26% from current prices, to around $38 per ozt.

Platinum, too, is predicted to rise to around $1,200.

JPMorgan is bullish on precious metals across the board. Some other analysts disagree, predicting flat or declining precious metal prices.

World Gold Council Neutral on 2025 Gold Outlook

The World Gold Council points out that macro factors like GDP, inflation and yields point to “positive but much more modest growth for gold in 2025 [compared to 2024]”. Even still, risk remains present – from changes in monetary policy, weakening investor demand, and potential trade war disruptions.

Sentiment from Retail Investors is Positive

Overall, sentiment from everyday retail investors is overwhelmingly positive for the 2025 gold price outlook. A survey of users from BullionVault indicated an average price target of around $3,000 for gold, and $36.80 for silver – similar to JPMorgan’s forecast.

Retail investors represent a relatively small portion of global gold demand, but sentiment is still important to note.

Central Bank Gold Buying Remains Healthy

Government central banks are major buyers of gold, and 2024 saw strong purchasing. In 2025, analysts from UBS are forecasting continued strong demand. “We expect central bank demand to remain solid—we forecast purchases of around 900 metric tons in 2025—driven by diversification and dedollarization trends.”

Given the massive transactions that central banks conduct – on both buying and selling sides – this will be an important factor to watch in 2025.

Where Do You See Gold Going in 2025?

Ultimately, investing is a personal decision. Nobody can accurately predict the future, so it’s up to each individual investor to make the best decision possible for their own financial situation. If your current or future investment allocation includes gold, it’s wise to consider the 2025 gold outlook ahead of time.

If you live in the greater Seattle area, we hope you’ll trust Bellevue Rare Coins for all your gold bullion needs. Whether you’re buying or selling, you’ll find the best deals on investment-grade bullion at our convenient stores in Bellevue, Issaquah, Tacoma and Lynnwood.

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