According to a renowned Gold News website, Kitco, after rising nearly 30% in 2024, gold prices continue to inspire confidence in many Industry experts, while most retail Traders believe that gold prices will exceed $3,000 per ounce in 2025.

Gold prices rose 27% last year due to central bank purchases, declining USA interest rates, and geopolitical risks.

Some Analysts pointed out that the upcoming week will see important employment data, which may set the tone for the dollar and gold trends in the first quarter of the new year.

FXTM Senior Research Analyst Lukman Otunuga stated that the USA non-farm employment report for December could impact the gold outlook for January.the Federal Open Market CommitteeDue to the FOMC minutes on Wednesday and speeches from Federal Reserve officials this week, gold volatility may increase before the report is released on Friday.Non-farm Employment Data

The Kitco News annual Gold survey shows that retail traders have strong confidence in the bullish potential of Gold, while large Banks and industry experts mostly expect Gold prices to continue rising through 2025.

A total of 457 retail investors participated in the Kitco News annual Gold survey, with a vast majority predicting that Gold prices will reach an all-time high in 2025, exceeding $3000 per ounce.

266 retail traders (58%) expect Gold prices to break through $3000 per ounce in 2025. Last October, Gold prices reached a historical high of $2790.17 per ounce.

Another 22% (103 retail traders) expect Gold prices to trade between $2800 and $3000 per ounce in 2025, while only 7% (30 investors) expect Gold prices to peak between $2600 and $2800 per ounce.

The remaining 58 retail traders (13% of the total) believe that Gold prices will retreat to the $2400-$2600 per ounce range by late summer to early autumn of 2024.

(Screenshot source: Kitco)

Chantelle Schieven, head of research at Capitalight Research, expects the current consolidation phase to last for a few months.

Schieven believes that Gold will Trade between $2,500/ounce and $2,700/ounce in the first half of the year, but is expected to break through $3,000/ounce in the second half.