Looking Back at 2024 Gold Price Predictions

2024 was a big year for precious metals — and gold didn't just exceed expectations — it shattered them.

Opening 2024 at just over $2,000, gold surged past every major forecast to approach $2,800 by October, forcing analysts and institutions to repeatedly revise their projections upward.

Let's review which experts saw it coming, which ones missed the mark, and what they're predicting for 2025.

Looking Back at 2024 Gold Price Predictions: Expectations vs. Reality

Gold's 2024 surge exceeded even the most bullish forecasts. While Bank of America and Citigroup projected ambitious $2,400 targets, gold blazed past these estimates to reach $2,800 by October — today settling in around $2,650.

Our annual review reveals just how dramatically the precious metal outpaced market expectations, with virtually every major institution underestimating its potential.

The Few Who Got It Right

Among major forecasters, only the boldest saw gold's potential. While Zach Scheidt ($3,000) and Juerg Kiener ($2,500-4,000) came close, traditional institutions fell short in their predictions. Goldman Sachs projected just $2,133, and the World Bank's $1,900 forecast missed dramatically.

What Drove Gold Higher:

• Geopolitical tensions intensifying beyond expectations
• Persistent inflation concerns despite central bank interventions
• Growing demand from central banks continuing their historic buying spree
• Market uncertainty driving investors toward safe-haven assets

Gold in 2025: The Next Chapter 

After such a historic run, where does gold go from here? Our comprehensive 2025 analysis explores expert forecasts and the key drivers that could push prices to new records.

2025 Gold Price Predictions: See Expert Forecasts

Until next time,

Brandon S.  
Editor
GoldSilver