Gold started the year with a price of $1,893.66. Most experts expect the price of gold to rise in 2021, especially during the second half of the year. Here is the 2021 gold price forecast from the leading investors, banks, and analysts.
Certified Gold Exchange – $2,640
Certified Gold Exchange maintains a bullish outlook on the price of gold, with a forecast of $2,640 an ounce.
Bank of America – $2,063
Bank of America lowered its 2021 gold price forecast from $3,000 to $2,063 an ounce. BofA previously had a price target of $3,000 but adjusted the target due to slow recovery from the pandemic.
Goldman Sachs – $2,300
Goldman Sachs announced near the end of 2020 that they set a target of $2,300 per ounce of gold. They expect inflation to rise 3% throughout the year, leading to strong performance for gold.
Citibank – $2,400
Citibank updated their gold price prediction toward the end of 2020. The banking company now predicts the price of gold to rise to $2,400 per ounce.
Capital Economics – $1,900
Capital Economics has one of the lowest forecasts for gold in 2021. The consultancy firm predicts gold will only reach a price of about $1,900 per ounce.
ANZ – $2,300
ANZ is an Australian bank that predicted the price of gold to reach $2,300 per ounce in 2021. However, the bank also predicted the price to reach $2,200 by the end of 2020.
GOV Capital – $2,088
GOV Capital, which is an independent investor blog, predicts the price of gold to reach $2,088.48 in 2021.
Nicoya Research – $3,250
Nicoya Research has one of the most optimistic forecasts, estimating that the price of gold will reach $3,250 per ounce in 2021.
Capital.com – $2,400
Capital.com has set a price target of $2,400 per ounce of gold for 2021, which is $300 higher than their previous forecast set in July 2020.
Metals Focus – $2,300
UK research firm Metals Focus predicts gold prices to reach $2,300 per ounce by the end of 2021.
Commerzbank – $2,300
Commerzbank expects gold prices to hover around $2,000 throughout most of the year before peaking above $2,300 by the fourth quarter.
Zero Hedge – $2,500
Zero Hedge offered a bullish outlook on the price of gold, estimating that it may reach $2,300 to $2,500 per ounce.
Kitco News – $2,000
Kitco News completed a survey of investors and found an overall cautious outlook. The average investor predicted the price of gold to reach a little over $2,000 by the end of 2021.
Morgan Stanley – $1,835
Morgan Stanley is one of the few companies to publish a negative gold forecast for 2021. The chief gold strategist at Morgan Stanley estimates that the price will decrease to $1,835 per ounce.
RBC Capital Markets – $1,810
RBC Capital Markets has the lowest forecast. The company recently announced a 2021 gold price forecast of just $1,810 per ounce.
JP Morgan has not published a 2021 gold price forecast. However, the company’s investor’s brief projected that the economy will contract during the first quarter of 2021 before gradually growing. JP Morgan expects the economy to grow 4.5% in the second quarter, 6.5% in the third quarter, and 2.8% in the fourth quarter.
What Is the Average Gold Forecast for 2021?
The average 2021 gold price forecast is around $2,300. While most investors remain bullish, only a few companies predict the price of gold to experience minor growth. Some of the lowest forecasts place gold at $2,000 an ounce, which is still a 5% gain for the year.
Keep in mind that forecasts may change throughout the year. Certified Gold Exchange maintains up-to-date price quotes and forecasts based on the latest technical analysis.
Due to changing outlook for the 2021 gold price please call our exchange pricing experts at (800) 300-0715 for up-to-date forecasts.