Source: Somoy News | 1st May 2025 | Pic: Collected
Gold prices are on track for a historic year, with analysts projecting an average price above $3,000 per troy ounce for the first time ever. A Reuters poll conducted this quarter among 29 analysts and traders revealed a median forecast of $3,065 for 2025, up sharply from $2,756 predicted three months ago.
The dramatic revision comes amid heightened global trade tensions and a growing shift away from reliance on the US dollar. Investors, wary of market volatility and political uncertainty, are turning to gold as a safe-haven asset — a traditional strategy during times of economic instability.
Spot gold prices have already risen by 25% in early 2025, nearly matching the 27% increase seen throughout 2024. According to London Stock Exchange (LSEG) data, the metal has averaged $2,952 per ounce so far this year.
“Gold looks set for what can only be described as another epic year,” said independent analyst Ross Norman. “Like in the early 2000s, gold is seeing buying on price strength, which can have the effect of feeding upon itself.”
Looking ahead to 2026, analysts also raised their median forecast to $3,000 — signalling continued confidence in gold’s upward trajectory.
