Price Predictions for Gold and Silver in 2024
Our gold price prediction for 2024 and the years ahead can be found below. We have also included silver price predictions. These price forecasts or price targets represent our best estimates based on the data and models that we have analyzed. The total United States debt is now above $34 trillion and deficits are soaring. The interest expense on the debt will be over $1.5 trillion alone this year. Put simply, this is not sustainable.
Gold bottomed around $1,050 in December of 2015 and has been trending mostly higher ever since. The gold price has established a new bullish trend channel, with higher lows every year over the past several years.
Central banks are buying gold a record clip and the supply and demand fundamentals suggest that gold prices are headed higher. This is why our gold forecast is very bullish and our gold price predictions point to much higher gold prices.
2024 Gold Price Prediction
2024 Gold Price Prediction: $2,900
2025 Gold Price Prediction: $4,200
The last gold bull cycle propelled the gold price up by roughly 6x. If the current advance comes in similar, we can expect the gold price to continue above $6,000 per ounce during the current cycle.
2024 Silver Price Prediction
With the gold-to-silver ratio still historically high, silver looks undervalued relative to gold and has the potential to outperform over the next few years.
2024 Gold Price Prediction: $50
2025 Gold Price Prediction: $75
Roughly 50% of silver’s demand is industrial versus only 10% to 15% for gold. So, if the economy continues to struggle, silver is likely to continue underperforming versus gold. If the economy stabilizes and rebounds, silver will likely outperform gold and lead the sector higher.
We don’t have a crystal ball and these are just our best estimates of the future prices of gold and silver based on due diligence and research. But it gives some indication of just how high prices could climb in the years ahead and the potential returns for investors willing to take the risk on precious metals. As supply has flattened and demand is increasing from central banks globally as well as retail investors, these factors will likely be bullish for the gold and silver price.
For up to date gold and silver prices and analysis, we recommend checking out Kitco.com.
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