It's interesting to observe how the gold market is developing. When I look at what has happened over the past two years, I see a clear expected price trend for gold that analysts have been predicting long-term.

At the beginning of 2024, gold started breaking into new all-time highs in all global currencies. This was the final confirmation of a long-term bullish trend. Interestingly, InvestingHaven in their analysis predicted a maximum price around $2,600 for 2024 and subsequently $2,555 – and these numbers were actually reached as early as August 2024. This means their methodology, which they have been building for fifteen years, works.

But what is really interesting? Their projected gold price development for the coming years looks very solid. When I look at a 50-year gold chart, I see two huge bullish reversals. The last 10 years (2013-2023) formed a cup and handle pattern – a classic signal of strong trend continuation. History doesn’t repeat, but it rhymes, as they say.

The fundamental driving force is inflation. That’s key. Gold doesn’t grow because of economic recessions or fear – that’s a myth. Gold rises when inflation expectations increase. When I look at M2 and CPI, I see steady growth supporting a soft bullish trend. Monetary dynamics simply create an environment friendly to gold.

So what are the targets? For 2026, this year, the price is expected to reach around $3,900. For 2030, talk is about $5,000. But interestingly, Goldman Sachs, UBS, BofA, and J.P. Morgan – all major institutions – agree that gold should be somewhere around $2,700 to $2,800. InvestingHaven is a bit more optimistic with their $3,100.

Regarding silver, it’s even more interesting. Silver tends to react later in the gold bull market, but when it starts, it’s explosive. The gold-to-silver ratio on the 50-year chart clearly shows that silver could target around $50.

It’s crucial to watch currency markets – the euro looks constructive, bond yields are under pressure, all supporting gold. Futures market positions are very stretched, which somewhat limits the upside potential, but a modest upward trend is still possible.

It’s actually nice to see how a scientific approach to gold market analysis pays off. When you stick to a methodology and don’t let emotional swings guide you, you can reasonably predict gold price developments. If you’re interested in tracking these trends, it’s definitely worth keeping an eye on gold positions and their development in the coming months.