Gold Price Forecast for Next 3 Years: Here’s What the Experts Say
Gold is a valuable investment that many people are now starting to like. Gold is the best tool for saving money because the value of gold has never decreased drastically compared to other types of currency or investments. So, so that you are sure to invest in gold, here we will discuss the gold price forecast for next 3 years.
Don’t worry, we’re not giving opinions, but facts according to experts. So, see all of these explanations to the end so you can make the best decision in investing in gold.
1. Gold Price Prediction According to OCBC Bank
The price of gold has increased since the election of Joe Biden as US President. After that, many economists made a gold price forecast 2023. In 2022, gold was around the price of $1,868 per ounce. However, gold has also experienced a price drop to $1,858. Even so, it turns out that there are still many experts who predict that the price of gold will rise in 2023. They even did a gold price forecast 2025 and it turned out that their prediction was correct.
A senior market strategist from RJO Future US fiscal stimulus of $1.9 trillion is the main reason for the increase in gold prices in 2022. President Joe Biden with his policies also made various financial stimulus to increase gold prices.
Why did this stimulus? So, the stimulus was carried out to be able to increase the circulation of money so that people’s purchasing power increases. Finally, there is inflation. If inflation occurs, investors prefer to save their wealth in gold so that the value of their wealth remains stable. For these reasons, OCBC Bank predicts that the gold price could reach $2,000 per ounce by 2023.
2. Gold Price Prediction According to UBS
Meanwhile, UBS also conducts a gold price forecast for next 3 years. UBS explained that the price of gold until the end of 2022 could reach $ 2,100 per ounce. This could happen if the US central bank The Fed did Quantitative Easing.
Increased geopolitical and trade tensions could also be a factor in increasing demand for gold. However, most experts from UBS say that this year gold should stabilize around the price of $1,900 per ounce.
3. Gold Price Prediction According to VanEck
VanEck is one of the world’s leading investment management companies. Financial experts from VanEck explained that in the next 3 years gold will be in the price range of $1,800 – $2,000 per ounce and this will remain the same for a long time during these three years.
However, they also predict that the price of gold could increase to $3,000 in the next 3-5 years if people continue to buy gold. So, the growth in gold prices could reach 62%. This can happen if there is an increase in inflation, an increase in state debt, an increase in asset values, and an increase in global corporate debt. With all these factors, investors will be afraid to spend their money so they prefer to save their wealth in the form of gold.
Therefore, it can be concluded that gold will experience a price increase in the next 3 years. With the gold price forecast for next 3 years, you should be more confident about buying gold. By investing in gold, you will avoid various financial risks in the future.