Gold Price Predictions - March 2024
Gold Price Predictions - March 2024
Gold Price Predictions - March 2024

Gold Price Predictions - March 2024

What are current market analysts’ gold price predictions?

With gold soaring to new all-time highs in the first week of March, I spent the last couple of days scouring the financial world for price predictions for gold and silver from noteworthy precious metals traders and market analysts. I’m going to share the “Top Five” I selected that cover a range of predictions on where gold prices might go from here.

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Gold Price Predictions - March 2024


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The surging prices of gold and silver over the past few days have gold bulls excited about a possible major bull market in precious metals ramping up in 2024 (and beyond).

  • Gold breaking significantly above the $2,000 with a new all-time high has investors eyeing $2,500, $3,000, and beyond
  • Silver closing in on $25 has some analysts projecting that reaching the $30 level is “a mortal lock”

Recent Past Bull Markets in Gold

If we are, indeed, at the start of a major bull market in gold and silver, taking a look at recent past bull markets might offer some clues as to how far gold prices might advance from here.

Looking at the chart below, you can see that gold nearly doubled in price between late-2018 and mid-2020. In less than 24 months, the price of gold went from below $1,200 an ounce to above $2,000 an ounce. And over that same time span, the price of silver advanced from less than $15 to over $27. A repeat of that kind of percentage gain could see gold well over $3,500 an ounce and silver approaching $40 an ounce within the next 18 to 24 months.

In the decade that began the 21st century, gold and silver made even more dramatic price moves to the upside. Silver went from under $5 an ounce to over $45 an ounce, while gold shot up from less than $300 an ounce to over $1,800 an ounce. It’s worth noting the respective percentage price gains of gold and silver over that timeframe. While gold increased in price 6X, silver increased in price even more - by 10X. With the gold to silver ratio near 90-1, many precious metals market analysts see silver as undervalued relative to gold. Therefore, they predict that a major bull market could see silver significantly outpacing gold in percentage price gains.

Gold Price Predictions as of March, 2024

As noted, I looked at various current gold and silver price future price projections from a number of well-respected gold and silver traders and market analysts. Detailed below are five precious metals market predictions that range from slightly bullish to extremely bullish.

  • Robert Kiyosaki - Gold to $5,000+

    Robert Kiyosaki is the author of the famous “Rich Dad, Poor Dad” book series and a super-successful investor. He’s been regularly buying gold and silver since the early 1960s. (I can’t even imagine what his profit margin on gold he bought around $50 an ounce is by now.) He’s been ringing a bullish bell on gold and silver for quite some time. Currently, he sees gold potentially surging to the $5,000 an ounce level – or higher – within the next few years. Kiyosaki is a long-time advocate of investing in gold and silver, primarily based on his view that gold and silver remain “real money”, while all fiat currencies are doomed to eventually fail. He also regularly points out that inflation has been eating away at the purchasing power of the US dollar ever since the creation of the Federal Reserve.
  • Andy Schectman - Silver to $100

    Andy Schectman is the CEO of Miles Franklin Precious Metals and a well-respected precious metals market analyst. He points out a little-known fact, that a few years ago the Bank for International Settlements (BIS) declared gold to be the only other Tier 1 asset besides the US dollar. Schectman has also long lamented the sorry state of the economies of major nations, running up debts that they can never hope to pay back. More recently, he notes that precious metals exchanges are being “bled dry” of gold and silver. That is, more and more traders are actually taking delivery of gold and silver through futures contracts.

    Schectman also points out that gold and silver prices are much higher on Shanghai trading exchanges than they are on western exchanges. It has long been rumored that western central banks have conspired to depress precious metals prices on western trading exchanges such as COMEX. Andy also notes the possibility that the BRICS nations may launch a gold-backed currency within the next year or two. The central banks of BRICS nations have continued to ramp up their purchases of gold in recent years. Like Kiyosaki, Schectman predicts that gold could be headed above $5,000 and that silver could possibly clear the $100 mark within the not-too-distant future.
  • Jordan Roy-Byrne – Gold to $3,000-$4,000, and possibly much higher

    Jordan Roy-Byrne is a major market technical analyst, a member of the Market Technicians Association. He is also the author of the book, The Coming Renewal of Gold’s Secular Bull Market, and the editor and publisher of His long-term analysis of gold leads him to believe that the current gold market conditions are much like those in the mid- to late-1960s, which saw the beginning of a major bull market that extended for more than 10 years and drove gold prices up by more than 1000%. As Jordan sees it, gold moving up to somewhere between $3,000 and $4,000 an ounce over the next few years is not an unreasonable projection, based on his long-term chart analysis. If we are at the start of a major bull market that would mirror the percentage price moves in gold and silver that occurred between 1965 and 1980, well, we could eventually see gold above $20,000 and silver above $200 an ounce.
  • Mike McGlone – Gold to $3,000, and then possibly $7,000

    Mike McGlone is a Senior Commodity Analyst at Bloomberg Intelligence who sees gold possibly reaching $3,000 by the end of 2024. And his forecast for 2025 is even more bullish. McGlone thinks that gold prices could possibly more than double in 2025, reaching as high as $7,000 an ounce or more.
  • Citibank – Gold $2,150 to $3,000 within the next 18 months

    Even market analysts at Citibank, which has historically had a more pessimistic view of the precious metals market than many prominent gold market analysts, are reflecting a firmly bullish stance on gold and silver for 2024. Citi’s downside gold price forecast for the year is still a firm $2,150, and it gives gold a 1-in-4 chance of ending the year somewhere above $2,300. Looking ahead, analysts at Citi even see gold perhaps clearing the $3,000 an ounce level within the next 12-16 months.

Is anyone out there predicting gold and silver prices will go down in 2024? Sure – mostly the same entities that are pretty much always bearish on gold and silver. For example, the International Monetary Fund (IMF) forecasts an average gold price of $1,775 per ounce in 2024. I think they might be wrong.

Gold Price Predictions - March 2024 – Summary

The overwhelming consensus of opinion from several gold market experts and veteran investors appears to be that we are most likely in the early stages of a major bull market in gold and silver. While some analysts see gold only edging slightly higher in 2024, others project gold prices rocketing significantly higher in 2024 and beyond. No one knows the future for certain, but gold moving up to new all-time highs is undeniably a positive sign for gold market bulls. Inflation, de-dollarization, increasing debt, and overall economic uncertainty are all potential drivers of significantly higher prices for gold and silver.

Interested in learning how to buy gold and buy silver?

Call 1-800-300-(GOLD) and speak with a Precious Metals Specialist today!



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