Gold Price Forecast 2025: Uptrend Still Dominant

Short-term volatility

Jim Wyckoff - senior analyst of Kitco commented that the gold market is in a state of unpredictable fluctuations.

For active traders, market “noise” is a major concern, causing rapid intraday dips and spikes. However, this trend could change by 2025, especially as key global geopolitical factors come to the fore.

The new US President Donald Trump will take office at the end of January 2025. Traders are still watching for his first policy and economic moves, especially in relations with China and the European Union surrounding the tariffs he has said.

Wyckoff said that Donald Trump may not be as tough on international partners as many feared. If true, this could provide a positive boost to the precious metals market, as better economic relations between the US and international partners could boost global economic growth and increase demand for metals.

Long term solid uptrend

For long-term investors, gold sentiment remains firmly bullish. The weekly and monthly charts show a steady uptrend with no signs of a major top in the short term. Wyckoff predicts that gold prices could surpass $3,000 an ounce and even higher in the next few years.

Notably, the current gold market is still in a boom cycle that began in 2022. The last downturn was from 2011 to 2015. To illustrate the cyclicality of raw material markets, Wyckoff looked at the price charts of lumber and cocoa. These markets have skyrocketed, nearly tripling in a matter of months, and it is not out of the question that gold will have similar breakouts in the future.

The year 2025 promises to bring many important changes in the gold market. Although short-term factors may cause volatility, the long-term upward trend remains, with the prospect of gold prices surpassing the $3,000/ounce threshold in the next few years.