Gold Price Forecast: Expert Predicts $3,500 Per Ounce by Year-End
Ahmad Qadir, a recognized authority in financial markets, has projected that the price of gold could surge to $3,500 per ounce by the end of this year. This comes in the wake of a significant rebound following an initial underperformance in gold prices.
The prevailing economic instability in the United States and globally has heightened concerns among central banks, investors, and business executives, prompting a notable shift towards gold as a safe-haven asset.
Qadir, who recently shared his insights during a market briefing, observed that previous forecasts had anticipated gold reaching $3,000 per ounce by the close of 2025. However, this target was achieved much earlier, reinvigorating expectations for further increases.
According to Qadir, the imposition of tariffs by former President Trump on certain trading partners has played a critical role in accelerating gold prices. He suggests that the trajectory of the U.S. economy is on a downward trend, as indicated by some of the largest financial institutions globally. This uncertainty has deterred investors from equities, leading them to redirect their capital into gold, oil, and digital currencies.
In the upcoming meeting scheduled for Wednesday, the central bank is expected to announce its decision on interest rates, with most analysts projecting that rates will remain unchanged at 4.50%. Qadir posits that the ongoing uncertainty surrounding the U.S. economy strengthens the case for sustaining current interest rates.
While many investors speculate about silver potentially mirroring gold’s surging prices, Qadir cautions that the economic climate may not favor silver. With a significant portion of silver demanded by the industrial sector, any further economic deterioration could adversely affect its value.
On November 6, it was reported that Trump initiated the creation of a strategic reserve for Bitcoin. Qadir remains skeptical that this move will positively influence the price of Bitcoin and other digital currencies. Drawing parallels to the establishment of the U.S. strategic oil reserve in 1975, he highlights that it did not lead to increased oil prices then, and he warns against the expectation that Bitcoin will rise based solely on this recent decision.
As Qadir notes, many still harbor misconceptions regarding Bitcoin’s trajectory, predicting further declines. Nevertheless, he acknowledges that Trump’s strategy may eventually bolster demand for digital currencies.
