At the time of writing, gold is within touching distance of its all-time price high of $3,004.86/oz. Many investors will no doubt be wondering, ‘Will the rally continue?’ And if it does, how high could the price go in 2025?
On March 14, 2025, the price of gold breached a psychological barrier, setting a new record price high of $3,004.86/oz, which equates to a 39% rise in its price in the past twelve months.
There are many reasons why the gold price has risen so dramatically over the past year, including economic uncertainty, geopolitical tensions, expected lower interest rates, central bank purchases, and inflation concerns. With the precious metal hovering just below its all-time high, we decided to investigate the market to better understand what could be in store for gold this year.
A Finite Resource
Gold has fascinated humans for aeons. According to the Royal Mint, history shows that the metal has been instrumental in displaying prosperity for nearly six millennia.
According to World Gold Council data, approximately 216,265 metric tons of gold had been mined as of February 2025, and based on the USGS’s 2025 data, approximately 64,000 metric tons are left to be extracted. However, estimates of how much gold remains vary, and some sources state that there might be only 54,000 tons left on the earth, hence why it is considered a ‘very’ precious metal.
How High Could the Price Go in 2025?
When trawling through the recent economic-focused press, there is a consensus that prices will continue to climb, with some experts/analysts forecasting prices reaching $4,000/oz.
Opinions on where gold will be at the end of this year do vary. Today, UBS’s chief investment office lifted its gold price forecast to $3,200; Goldman Sachs has predicted a price of $3,100-$3,300/oz, and the World Gold Council‘s prediction is $2,900-$3,100.
On the more bullish end of the spectrum is Long Forecast, which predicts gold could reach approximately $3,570 per ounce by the end of November 2025, calculated from their per-gram forecasts (e.g., $114.75 per gram equating to about $3,570 per ounce, given 31.1 grams per ounce), and the well-known investor Jeffrey Gundlach, who sees it going as high as $4,000 per ounce this year.
Given these projections, the overall consensus is that the price of gold will increase, although the market does expect to see the price falling below $3,000/oz at times during the year.
Compared to others, we’re a little more bearish on how high gold will go this year. We expect the price of gold to peak at a little over $3,100/oz during the year, and see an end-of-year price of more or less $3,000/oz. However, we’re not qualified financial advisers or even gold experts, so please don’t take our word for it. When considering investing in anything, you should always talk to a qualified expert/advisor beforehand.
You must be logged in to post a comment.