The return of the gold price is particularly relevant for private investors, as gold has traditionally been seen as a safe haven in times of economic and geopolitical uncertainties. This characteristic makes gold an important component of many investment portfolios, especially when inflation rises or political tensions increase.
Forecasts for 2025
For the year 2025, leading financial institutions and analysts expect a significant increase in the gold price:
- Goldman Sachs predicts that the gold price will rise to around 3,000 US dollars per ounce by the end of 2025. This increase is primarily driven by persistent inflation fears, geopolitical risks, and increased demand from central banks. In particular, central banks in emerging countries have been increasingly buying gold since 2022 to shift their reserves away from the US dollar—a step that further supports the price.
- According to Gov Capital, the price could even fluctuate between approximately 2,900 and over 4,300 US dollars in 2025, with an expected average price of just under 4,000 dollars by the end of the year.
- Analysts at BMO Capital Markets also see an upward trend and attribute it to trade conflicts as well as increasing de-dollarization: countries are increasingly avoiding the US dollar in trade and prefer gold as a hedge against economic uncertainties.
What Does This Mean for Private Investors?
For private investors, this development signals an increasing importance of gold as protection against inflation and currency risks, potentially attractive return opportunities due to price increases, and the necessity to closely monitor geopolitical developments as well as monetary policy decisions, such as central bank purchases.
Overall, the forecast for 2025 indicates a phase of increased volatility in the commodity market with a strong tendency toward higher prices for the precious metal gold—a trend that private investors should consider when making their investment decisions.