According to Jinshi Data, Wall Street analysts expect gold prices to rise further in 2025. Although gold prices rose 27% in 2024, the pace of increase may slow down. According to a survey by the Financial Times, banks and alchemists on average predict that gold prices will climb to $2,795 per ounce by the end of this year, about 7% higher than the current level.
Gold is expected to continue to benefit from global central bank gold buying. Fed rate cuts, concerns about rising debt levels under the Trump administration, and conflicts in the Middle East and Ukraine are also expected to push gold prices higher. Goldman Sachs is the most optimistic, predicting that gold prices will reach $3,000 by the end of 2025, supported by central bank demand and expectations of Fed rate cuts.
Barclays and Macquarie are the most pessimistic, predicting that gold prices will fall to $2,500 by the end of this year, a drop of about 4% from current levels.