For the first time, analysts surveyed by Reuters expect the average gold price to surpass $3,000 per ounce. The poll’s median forecast projects gold to average $3,065 an ounce in 2025 and $3,000 an ounce in 2026, reflecting a shift in market sentiment toward higher long-term valuations.
Gold has already climbed roughly 25% year to date, supported by several key factors. Escalating trade tensions between the United States and China have increased demand for safe-haven assets. Central banks around the world have been net buyers of gold, adding to official sector demand. At the same time, a weaker U.S. dollar has encouraged investors to allocate more to bullion as a hedge against currency volatility.
Silver is also expected to rise, with analysts’ median forecasts at $33.10 an ounce for 2025 and $34.58 for 2026. Beyond price momentum tied to broader precious metals trends, silver’s outlook is underpinned by growing industrial demand and a tightening structural market that could keep supply below consumption over the medium term.
These forecasts reflect a blend of macroeconomic and sector-specific drivers: geopolitical uncertainty and trade disputes that boost flight-to-safety buying; central bank purchases that reduce available supply; and commodity-specific dynamics—especially for silver—where industrial use and constrained supply can amplify price moves. Investors and industry participants will likely monitor inflation expectations, interest rate trajectories, and shifts in dollar strength, as these variables typically influence precious metals’ appeal relative to other assets.
While analyst projections provide a directional view, actual prices will be shaped by evolving economic data, policy decisions, and unexpected events. Nonetheless, the Reuters poll marks a notable milestone in consensus forecasts by placing average gold prices above the $3,000 threshold for the first time in the survey’s history, and it highlights growing confidence in both gold and silver as key components of diversified portfolios and strategic reserves.