Gold Price Prediction, Gold Price Forecast: Gold and silver prices have rebounded strongly in recent sessions, with global analysts issuing bold long-term forecasts driven by macroeconomic shifts, geopolitical tensions, and a potential reallocation of global capital.
JPMorgan analysts have issued one of the most bullish calls yet, projecting that gold could surge to $6,000 per ounce by 2029, up from the current level of around $3,300. Their estimate hinges on a scenario where just 0.5% of U.S. assets held by foreign investors are shifted into gold.
“While hypothetical, this scenario illustrates why we remain structurally bullish gold and think prices have further to run,” analysts wrote.
“The recent period in financial markets has demonstrated that interest and trust in US assets are already being questioned, and the US is vulnerable to capital outflows,” they warned.
While JPMorgan paints a long-term bullish picture, Citi has taken a more cautious short-term view, cutting its 0–3 month target for gold to $3,150/oz, expecting consolidation between $3,000–$3,300/oz after recent gains.
On the silver front, UBS has turned optimistic, urging investors to act quickly as prices linger near $30/oz. The bank expects silver to rally to $38/oz by the second half of 2025, supported by growing industrial demand and safe-haven buying in times of economic uncertainty.
“We think silver prices below $30/oz are unlikely to last over the next 3–6 months,” UBS wrote, attributing the recent dip to a temporary “risk-off” sentiment.
UBS added, “Instead of turning investors away amid a price decline, UBS encourages investors to buy the dip.”
UBS analysts believe that the volatility triggered by President Donald Trump’s sweeping tariffs and a corresponding stock market slump may offer an entry point for silver investors. Their projection aligns with the average expert forecasts for 2025, which hover near $37/oz.
President Donald Trump began his Gulf tour on Tuesday with a series of bold announcements, including the lifting of long-standing U.S. sanctions on Syria and a massive $600 billion investment commitment from Saudi Arabia into the American economy.
In a historic agreement, the United States has also finalized an arms deal with Saudi Arabia worth nearly $142 billion. The White House described it as the largest “defense cooperation agreement” Washington has ever executed.
Meanwhile, in the Middle East, Israeli military forces intercepted a missile launched from Yemen amid escalating regional tensions.
In trade developments, the U.S. slashed the ‘de minimis’ tariff on small parcel imports from China to as low as 30%, in a move expected to impact e-commerce and bilateral trade flows.
On the currency front, China’s central bank set the yuan’s daily reference rate at 7.1956 per dollar—below analyst expectations for the first time this year. Despite the lower fixing, the rate remained stronger than the previous day’s level, indicating that Chinese authorities are managing the yuan’s rebound carefully amid improving sentiment following a U.S.-China trade truce.
Macroeconomic Factors and Market Sentiment
On Tuesday, gold June futures settled at $3,247.80/oz, up 0.61%, and silver July futures closed at $33.10/oz, up 1.46% on COMEX. The domestic market followed suit with gold closing at ₹93,647 per 10 grams and silver at ₹96,767 per kg, both posting solid gains.
Cooling U.S. inflation also helped support prices. The April U.S. CPI came in at 3.2%, slightly lower than March’s 3.3%, which pressured the dollar and supported metals. Meanwhile, comments from India’s Prime Minister clarified that operations under “Sindoor” have only been halted temporarily, not permanently, helping lift investor sentiment.
Geopolitical developments remain a major influence. While U.S.-China trade negotiations are lending support to silver due to its industrial use, hopes of a Russia-Ukraine ceasefire and stronger U.S. bond yields could cap gains for gold.
Expert Technical View
Manoj Kumar Jain noted, “We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geo-political tensions; gold prices could hold its key support level of $3,140 per troy ounce and silver prices could also hold $31.40 per troy ounce levels.”
He added that gold has support at $3,222–3,200 and resistance at $3,274–3,300, while silver has support at $32.80–32.55 and resistance at $33.30–33.66 per ounce.
In the domestic market, gold is supported at ₹93,150–92,660 and faces resistance at ₹94,000–94,450. Silver sees support at ₹96,000–95,350 and resistance at ₹97,400–98,200.
“We suggest avoiding buying in gold and recommend buying silver on dips around ₹95,800 with a stop loss of ₹95,100 for a target of ₹97,200,” said Jain.
Currency Watch
Jain also provided insights on the dollar and rupee movement.
“We expect the dollar index to remain volatile this week and trade in the range of 97.70–102.85. The rupee may fluctuate between 84.20 and 86.80 against the dollar, influenced by crude oil prices and regional tensions.”
Kedia Commodity Outlook
According to Kedia Commodity,
- Gold has immediate support at ₹92,950, with resistance at ₹94,255, and a breakout could see it head towards ₹94,870.
- Silver is supported at ₹95,935, with resistance at ₹97,635, and a push beyond this level could target ₹98,500.
Nirmal Bang Gold and Silver Outlook
Geojit Group Outlook for Gold and Silver
SMC Group Gold and Silver Outlook For Today
Motilal Oswal Group Daily Report on Gold and Silver Prices
Big Events of The Week
Monday, May 12, 2025
07:55 PM – US – Fed Kugler Speech
11:30 PM – US – Monthly Budget Statement (April)
Tuesday, May 13, 2025
06:00 PM – US – Core Inflation Rate MoM (April)
06:00 PM – US – Inflation Rate MoM (April)
Wednesday, May 14, 2025
02:45 PM – US – Fed Waller Speech
06:40 PM – US – Fed Jefferson Speech
Thursday, May 15, 2025
02:30 PM – Eurozone – GDP Growth Rate QoQ 2nd Estimate (Q1)
06:00 PM – US – Retail Sales MoM (April)
06:00 PM – US – Core PPI MoM (April)
06:00 PM – US – Initial Jobless Claims (Weekly)
06:10 PM – US – Fed Chair Powell Speech
06:45 PM – US – Industrial Production MoM (April)
Friday, May 16, 2025
05:20 AM – Japan – GDP Growth Rate QoQ Preliminary (Q1)
07:30 PM – US – Michigan Consumer Sentiment Preliminary (May)
Other Major Events This Week
China–US Trade Talks
President Trump’s Visit to the Middle East
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
