

2023 Precious Metals Forecast Survey
Robin Bhar
Robin Bhar Metals Consulting
Take a look at the analysts' individual forecasts and commentary, revealing their insights behind their forecasts for highs, lows, and average prices for gold, silver, platinum and palladium.
— Analyst's average forecast
— Current price
Range
$1,600 - $2,000
Average
$1,890
Amid a moderation in inflation, the Fed has room to slow the pace of rate hikes, which should favour gold. In general, 2023 is shaping up to be a gold-friendly outlook, driven by recession risks and peak US dollar and yields. Central bank buying should continue to be an important support factor, as will continued portfolio diversification and speculative money on the long side. Huge government deficits and huge increases in public and private debt should support the gold price, while any escalation in geopolitical tensions could trigger safe-haven demand for gold.
Top three drivers for the gold price in 2023: US monetary policy, US dollar, geopolitics
— Current price
Range
$17 - $26
Average
$23
— Current price
Range
$900 - $1,200
Average
$1,038
— Current price
Range
$1,700 - $2,300
Average
$1,775