Gold price forecast: Why investors expect record highs within 2 years - Livemint

AI desk brief

Investors and industry executives expect gold to make fresh record highs within the next 12-24 months, with cited support from central bank buying, fiscal concerns and de-dollarisation themes. Gold fell 2% to $4,075/oz on Wednesday on renewed Fed-hike expectations, but speakers at the FT Precious Metals Symposium argued the pullback is temporary and that $4,000/oz may act as a floor ahead of the next leg higher.

World Gold Council data cited in the piece show September central bank purchases at about 63 tonnes, the highest monthly level since November 2024, while China’s gold reserves are put at roughly 2,410 tonnes, around 9% of total reserves. Named fund managers and producers see bullion benefiting from weakening confidence in fiat currencies, rising US debt and ongoing geopolitical use of the dollar, with one portfolio manager calling for a new high within 12-18 months and another within two years.