Summa Silver Corp. (TSXV: SSVR, OTC: SSVRF, FRA: 48X)
Silver Lives Here
After hitting an all-time high of $3,500 per ounce a week ago, the price of gold has fallen back to $3,300 per ounce. However, analysts generally believe that gold prices will continue to move higher, even to $4,000 per ounce, supported by a combination of macroeconomic uncertainty, expectations of interest rate cuts, geopolitical tensions and central bank demand.
JP Morgan‘s commodities team recently released a report predicting that gold prices will reach $3,675 per ounce by the fourth quarter of 2025 and $4,000 per ounce by the second quarter of 2026.
Goldman Sachs analysts also noted in an updated report, raising benchmark gold price forecast for 2025-2026 by 12 per cent and year-end gold price forecast to $3,700, with volatility expected to range from $3,650-3,950 per ounce.
Bernard Dahdah, commodities analyst at Natixis, said in his latest report that gold’s retreat from its recent all-time high of $3,500 an ounce is not surprising as President Trump has eased up on tariffs. While tensions have eased, any new conflict will provide support for gold and could push the price up to $4,000 an ounce.
He added that Trump’s trade policies have strained US relations with the world and, most importantly, the dollar and US Treasuries are waning as safe-haven assets, which is one of the most critical factors driving gold prices higher.
Dahdah believes it is only a matter of time before the price of gold reaches new highs if we see China begin to consistently sell off its holdings of US Treasuries, or if there is a continued outflow of money from US Treasuries and Money Market Funds (MMFs) against the backdrop of US Treasuries losing their safe-haven status.
On Tuesday, US stocks posted their worst performance in more than half a century in Trump’s first 100 days back in the White House, with Trump’s erratic trade policies causing sharp market turmoil and fuelling fears that the US economy could slip into recession. This could be another reason why analysts and retail investors generally believe gold prices will continue to rise.
