This Is the BIG ONE for Gold! How Much Gold & Silver Are You Holding Before It Begins? - Gary Wagner
This Is the BIG ONE for Gold! How Much Gold & Silver Are You Holding Before It Begins? - Gary Wagner
Gold markets have remained relatively stable this week, with gold/dollar hovering around the 2,640 dollar mark despite retreating from an intraday high of 2,655.50 dollars. From a technical standpoint, the daily chart for gold/dollar shows little change from its opening levels, with prices confined to familiar ranges. Despite this near-term indecision, market analysts and strategists remain optimistic about the long-term trajectory of gold prices.
The Gold Forecast editor Gary Wagner highlights that gold’s long-term trend points to higher prices, underpinned by favorable macroeconomic and technical indicators. His analysis suggests that the ongoing bullish cycle could push gold to new record highs by 2025. Similarly, Lina Thomas, a commodities strategist at Goldman Sachs Research, underscores that falling interest rates and consistent central bank demand for gold are key drivers of this anticipated rally. On November 18, Goldman Sachs reiterated its forecast of gold prices reaching 3,000 dollars per ounce by the end of 2025, reinforcing their bullish stance.
Several factors continue to support gold’s appeal as a safe-haven asset. Central banks remain significant players in the gold market, even though purchases slowed during the third quarter. Analysts expect demand to remain steady as countries diversify their reserves away from the US dollar, reflecting concerns over global economic stability. Ongoing conflicts and geopolitical uncertainty have also kept gold’s safe-haven appeal intact. While recent developments in South Korea have not spurred a significant price reaction, analysts suggest such factors add to gold’s underlying strength.
Falling interest rates further enhance gold’s attractiveness by reducing the opportunity cost of holding a non-yielding asset. With central banks expected to lower rates further, this macroeconomic trend aligns with the broader bullish narrative for gold.
While short-term profit-taking has occasionally weighed on gold prices—particularly following events like Donald Trump’s political resurgence—the fundamental drivers of gold’s strength remain intact. As Wagner notes, combining geopolitical uncertainty, sustained central bank purchases, and a low-interest-rate environment provides a strong foundation for gold’s continued rally.
Gold has recently completed an Elliott Wave cycle, reaching a peak of 2,800 dollars before entering an ABC corrective phase that saw prices retreat to 2,566 dollars. While traditional patterns might suggest further declines, recent gains hint at a potential end to the correction if prices surpass the 2,690 dollar level. Analysts, including Gary Wagner, foresee a strong bullish trend for gold in 2025, driven by favorable macroeconomic and technical conditions.
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