Gold Price Forecast: Veteran Strategist Predicts 

Veteran strategists are generally bullish on gold prices, predicting continued strength and potentially new record highs through the end of 2025 and into 2026. Here’s a summary of their forecasts and the factors driving them:

Key Takeaways from Veteran Strategists:

New Price Floor Established: Many strategists believe gold has established a new price floor well above $3,000 an ounce, a significant jump from the $2,000 floor seen last year.

Continued Upside Potential: Despite recent rallies, strategists like George Milling-Stanley, chief gold strategist for State Street Global Advisors, suggest gold has more upside potential than downside risk, particularly due to ongoing uncertainty.
Target Ranges:
UBS projects gold to reach $3,500 per ounce by the end of 2025 and $3,600 by mid-2026.
Goldman Sachs is even more bullish, forecasting $3,700 per ounce by the end of 2025 and $4,000 by mid-2026. Some even suggest it could hit $4,500 in the event of a US recession or escalation of the trade war.
Other analysts predict gold could reach $3,560.59–$3,925.39 by the end of 2025, with some more conservative forecasts putting it around $3,315.00.
Long-term forecasts extend to $5,000 and beyond by 2030, with some even anticipating $8,999.00–$10,000.00 by 2040–2050.
Consolidation Possible: While the overall outlook is bullish, some strategists wouldn’t be surprised if gold consolidates a bit, trading in the $3,000 to $3,500 range for a while after its significant gains.
Factors Driving the Bullish Outlook:

Geopolitical Uncertainty: Escalating tensions in the Middle East (like the recent Israeli airstrikes on Iran), US-China trade disputes, and broader global instability are significant drivers. Gold acts as a safe-haven asset during times of crisis, and this demand is expected to continue.
Interest Rate Expectations: The anticipated shift in Federal Reserve monetary policy, with markets pricing in a high probability of interest rate cuts in the latter half of 2025, is favorable for gold. Lower rates reduce the opportunity cost of holding non-yielding assets like gold.
Central Bank Buying: Central banks worldwide have been consistently strong net buyers of gold for the past 15 years, accelerating in the last three. This diversification away from dollar-denominated assets into bullion is a crucial demand factor. Metals Focus predicts central banks will buy around 1,000 metric tons of gold in 2025.
Inflation Concerns: While not always a direct inflation hedge, gold can perform well during periods of sustained high inflation, especially if central banks lose control over price hikes. Ongoing sticky inflation concerns contribute to its appeal.
Weakening Dollar: A weakening US dollar typically makes gold more attractive to international buyers.
Economic Uncertainty: The overall macroeconomic outlook, with concerns about potential recessions and market volatility, increases gold’s appeal as a store of value.
In summary, veteran strategists believe that a confluence of geopolitical risks, shifting monetary policy expectations, and consistent central bank demand will continue to support and drive gold prices higher, potentially reaching new record levels in the coming months and years.