Why are Gold Prices so high?
23-10-2025 - Gold prices surged 8.1% over the past month, from $3740.7 to $4044.4 per oz. The high was $4336.4 on 20th Oct, while the low was $3732.1 on 24th Sep.
Our one month forecast for Gold is $3982.0 per oz, a decrease of $62.40 or -1.5% from the latest price. Our analysis suggests a higher chance of prices exceeding our forecast than falling short.
Our current forecast shows that Supply data has the most significant impact, reducing the price forecast by $43.6 per ounce. The most influential family within the Supply data is Inventories, contributing to this decrease. However, there is disagreement among the data types, as Demand and Flows data suggest upward price pressure, with Global Economy and Exchange Rates data indicating increases of $8.4 and $22.9 per ounce, respectively. On the other hand, Supply and Technical data types suggest the opposite trend, with no price increase indicated.
Our one month forecast for Gold is $3982.0 per oz, a decrease of $62.40 or -1.5% from the latest price. Our analysis suggests a higher chance of prices exceeding our forecast than falling short.
Our current forecast shows that Supply data has the most significant impact, reducing the price forecast by $43.6 per ounce. The most influential family within the Supply data is Inventories, contributing to this decrease. However, there is disagreement among the data types, as Demand and Flows data suggest upward price pressure, with Global Economy and Exchange Rates data indicating increases of $8.4 and $22.9 per ounce, respectively. On the other hand, Supply and Technical data types suggest the opposite trend, with no price increase indicated.
What is the current / spot price of Gold?
Gold Price Today
October 23, 2025
Current Price
4044.4
What is the forecast for the price of Gold?
Gold Price Forecast
October 23, 2025
1 Month Forecast
3982
1 Year Forecast
3329.6
What are the short-term drivers of Gold prices?
What are the long-term drivers of Gold prices?
Over the 1 Month horizon the outlook is bearish due to drivers such as: - Gold (CMX) - The net positions of speculators on COMEX Br(None) The top contrary drivers for the 1 Month horizon are: - EWMA-based technical analysis - Short term price trends - Movements in the Hong Kong Dollar
Over the 1 Year horizon the outlook is bearish due to drivers such as: - Gold (CMX) - Long term price trends - Movements in the Chinese Yuan Br(None) The top contrary drivers for the 1 Year horizon are: - The net positions of speculators on COMEX - EWMA-based technical analysis
Will the price of Gold go up?
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1 Week
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