Analysts and industry upbeat about gold price in 2025
Mining analysts and sector players are optimistic about gold prices for this year. The price recorded historic gains of close to 30% in 2024 and is on track to hit a record US$3,000/oz. On October 30, the price of the yellow metal climbed to an unprecedented maximum of US$2,790/oz, driven by rising geopolitical tensions in Eastern Europe and the Middle East.
Additional pressure that will benefit the prices of gold and silver will come from president-elect Donald Trump’s return to the White House. “I think gold does have the potential to break the all-time high of US$2,790/oz that it reached last year and, if possible, it can even reach a new all-time high of US$3,000/oz, and not only because of the risks that the Trump administration represents not just for Mexico, but for global trade in general,” Ana Azuara, a commodity markets specialist at Grupo Financiero Base, told BNamericas.
The gold price reached US$2,660/oz on Tuesday, supported by a weaker dollar, as traders grappled with uncertainty surrounding Trump’s tariff policies, according to Trading Economics. Azuara expects that the trade war with China will intensify and recalled that political and economic risks are also coming from Europe, where last year’s parliamentary elections exposed deep divisions.
In late October, Goldman Sachs Research predicted that gold could reach US$3,000/oz by the end of 2025, after breaking several records during 2024. Goldman Sachs analyst Lina Thomas wrote in a report at the time that the relationship between changes in gold prices and changes in interest rates is still relevant, but significant purchases of gold bullion by central banks have reset the relationship between rates and price levels since 2022. The bank estimates that 100t of physical demand raises gold prices by at least 2.4%.
Industry expectant
Mexico-focused miner Sonoro Gold highlighted on its LinkedIn account that “as we enter 2025, the outlook for gold remains promising, with forecasts pointing to continued price increases.”
It added, “this trend is driven by increasing gold reserves by central banks and sustained global demand.”
Sonoro Gold said this market environment complements the development of its US$15.5mn Cerro Caliche project which, with an updated mineral resource estimate and strong preliminary economic results, is planned to advance toward production.
Source: https://www.bnamericas.com/