Gold Price Outlook
“Daily gold prices rose 64.4% from the start to the end of 2025, basis the settlement prices of the nearby active Comex gold contract. After breaking numerous records during the year, prices reached their final record high for the year of $4,584 on 26 December. While prices corrected modestly during the final three trading days of the year, gold resumed its upward trajectory at the start of the New Year, highlighting persistent underlying demand.
On an annual average basis gold averaged $3,458.79 in 2025, up 44.3% from $2397.72 in 2024.
Gold price volatility could pick up during 2026, and the prices are expected to remain high during the year, with no base case expectation of a major correction.”
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