Gold price forecast gets 15% upgrade for 2025: LBMA poll

[Redator]

A new poll by the London Bullion Market Association (LBMA) shows that metals analysts are growing more bullish on gold for the remainder of this year, forecasting 15% higher prices on average.

The results published this week contained upgrades from a portion of analysts featured in LBMA’s annual survey, which it released in January. In that survey, some 29 analysts predicted an average gold price of $2,735.33/oz. for 2025, with none suggesting above $3,000.

Since the survey’s publication, gold prices have soared as global trade tensions and geopolitical uncertainty took hold of the market. In April, the yellow metal touched an all-time high of $3,500 as investors sought refuge in safe havens.

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According to LBMA data, the benchmark gold price in London averaged $3,070.86 during the first half of 2025, divided into $2,862 for Q1 and $3,279 in Q2, when US President Donald Trump announced his sweeping tariffs.

The LBMA says a majority of responding analysts suggested that, despite geopolitics being a key driver, the market is likely to pay more attention to US monetary policy, particularly the budget deficit and dollar weakness.

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As such, 13 of the analysts have upgraded their forecasts for gold, with an average price of $3,324.40 through the end of 2025, which is some 27.3% above last year’s year-end price.

Opinions were, however, divided as to how high gold prices could go, with $4,000 being the highest forecast and a fraction less than $3,500 being the lowest, the LBMA poll showed. A significant number of analysts thought the price might actually be fading at year-end, with five from the 13 suggesting a December price of $3,200 or below.