

2024 Precious Metals Forecast Survey
Bruce Ikemizu
Japan Bullion Market Association
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
$1,900 - $2,300
Average
$2,100
Lower interest rates are widely expected this year and that will prompt G7 investors, who were gold sellers in ETFs and CME in 2023 due to high interest rates, to become buyers. This will have double bullish impacts as short turns long. The central banks of non-G7 countries will still be eager buyers of gold as dedollarisation is not a one-off trend. Gold is the one asset that both emerging and developed countries can trust. I would expect lower interest rates, geopolitical tensions and dedollarisation to push the gold price still higher in 2024.
Three key drivers of the gold price: Dedollarisation (=central bank buying); FRB’s monetary policy; geopolitical tension.
— Analyst's average forecast
— Current price
Range
$20 - $32
Average
$26
— Analyst's average forecast
— Current price
Range
$850 - $1,120
Average
$1,000
— Analyst's average forecast
— Current price
Range
$800 - $1,300
Average
$950