2025 Precious Metals Forecast Survey

Jacob Smith

Metals Focus

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

— Average price year to date

— Average price 2024

— Current price

$2,200 $2,300 $2,400 $2,500 $2,600 $2,700 $2,800 $2,900 $3,000 $3,100 $3,200 $3,300 $3,400 $3,500
 

Range

$0 - $0

Average

$0

— Analyst's average forecast

— Average price year to date

— Average price 2024

— Current price

$22 $26 $30 $34 $38 $42 $46
 

Range

$0 - $0

Average

$0

— Analyst's average forecast

— Average price year to date

— Average price 2024

— Current price

$700 $800 $900 $1,000 $1,100 $1,200 $1,300 $1,400
 

Range

$870 - $1,120

Average

$970

Platinum is expected to remain rangebound throughout 2025, continuing its trend since 2022. Ample above-ground stocks, with more than 3Moz in ETPs, will mitigate the effect of platinum’s third consecutive deficit in 2025, constraining price gains. Platinum’s range-trading behaviour is largely self-fulfilling. Traders consistently buy at levels in the low $900s and below, while selling near $1,000 and above. Chinese importers capitalise on price dips, and the industrial market provides enough support to stabilise prices without driving a breakout. Consequently, our price forecast remains largely unchanged year-on-year: lows of $870, highs of $1,120, and an annual average of $970, reflecting just a 1% increase from 2024’s annual average.

— Analyst's average forecast

— Average price year to date

— Average price 2024

— Current price

$650 $850 $1,050 $1,250 $1,450 $1,650
 

Range

$0 - $0

Average

$0