Are you following the gold forecasts? I’ve noticed something interesting lately. Practically all major financial institutions are converging on a very specific range for the gold price, and frankly, their analyses still seem too conservative to me.

Let’s start with the facts: since 2024, gold has begun setting new all-time highs in virtually all global currencies, not just in dollars. It was a serious confirmation of the bullish market. If you look at the long-term charts, what you see is fascinating—an inverted cup-and-handle pattern that formed between 2013 and 2023. When these patterns are that long, they tend to be very powerful.

The fundamental driver always remains the same: inflation expectations. Gold shines when inflation is in the spotlight, and the growth of M2 combined with the consumer price index continues to support a bullish thesis. The monetary dynamics are clear, and gold is simply following market logic.

Now, on the specific forecasts. Bloomberg and Goldman Sachs expect prices around $2,700 for 2025. UBS, BofA, J.P. Morgan, and Citi Research are all in this range between $2,700 and $2,800. It’s a remarkable consensus. But InvestingHaven has always had a more bullish perspective, and honestly, looking at the fundamentals, it makes sense. Their 2025 forecast is around $3,100, which seems more in line with what the technical data suggest.

For 2026, targets rise further to around $3,900. But what I’m really interested in is the long-term view. If you’re thinking about gold forecasts over the next 10 years, the picture gets even more interesting. The 2030 target is set at around $5,000 under normal market conditions. It could be even higher if inflation gets out of hand like in the 1970s.

There are some technical factors that support this thesis. The euro remains strong, which is favorable for gold. Bond yields shouldn’t rise further, which is positive for the yellow metal. However, there’s a catch: the net short positions of commercial traders in the futures market remain very high, which could limit upside potential in the short term. That means the bullish market could be more gradual, not explosive.

A detail that many people miss: silver will probably explode later in the cycle. If you’re building a diversified portfolio, gold remains the core, but silver could deliver interesting accelerations at a later stage.

The bullish thesis on gold only becomes invalid if the price drops and stays below $1.770, but honestly, that’s a very low probability given the current setup. What we’re seeing is a bullish market that will likely last for years, with some consolidation phases in between, but with an overall upward direction.

If I have to summarize it: the institutional consensus is converging around $2,700–$2,800 for 2025, but the key indicators suggest we could go higher. For 2030, $5,000 is a reasonable target under normal conditions. All of this supports a constructive outlook on gold in the coming years.