Gold Price Outlook 2024

With the spot gold price approaching $2,100 an ounce, what’s the outlook for the price of gold for 2024

Gold Price Outlook 2024

Gold Price Outlook 2024

The outlook for the price of gold in 2024 is mixed, with some analysts predicting further gains and others expecting a slight decline. Here’s a breakdown of the current situation and potential factors at play:

Gold Price Outlook 2024

Gold Price Outlook 2024







Current Price: The spot gold price is currently approaching $2,100 an ounce, which is already higher than any previous yearly average price. This could be seen as a bullish signal for the precious metal.

Analyst Forecasts:

  • Bullish: Some analysts, like Mike McGlone of Bloomberg Intelligence, are quite optimistic about gold’s prospects. McGlone predicts that gold could reach $3,000 per ounce by the end of 2024, driven by a potential recession and the return of quantitative easing.
  • Neutral: Other analysts, like those at Goldman Sachs and Citibank, have more moderate forecasts, predicting prices to reach around $2,133 and $2,300 per ounce, respectively, by the end of the year.
  • Bearish: Some, like Bank of America, are slightly bearish on gold, predicting a price of around $2,050 per ounce by the end of 2024.

Factors Influencing the Outlook:

  • Global economic uncertainty: A potential recession or economic slowdown could increase demand for gold as a safe-haven asset, pushing prices higher.
  • Inflationary pressures: Continued inflation could also boost gold’s appeal as a hedge against rising prices.
  • Geopolitical tensions: Any major geopolitical events, such as wars or conflicts, could also drive investors towards gold.
  • Interest rate policies: If the Federal Reserve cuts interest rates in 2024, as some are predicting, it could weaken the US dollar and make gold more attractive. Conversely, if rates continue to rise, it could put downward pressure on gold prices.
  • Demand for alternative investments: The performance of other asset classes, such as stocks and bonds, will also play a role in determining how much investors allocate to gold.


While the future remainsin, the current environment seems  uncertato offer some support for gold prices. However, it’s important to remember that the precious metal is a volatile asset, and its price can be influenced by a wide range of factors.

It’s important to do your own research and consider your own risk tolerance before making any investment decisions.


High Grade Silver Ore Slab

silver slab - Gold Prospector Holiday Unique Gifts

silver slab – example only

Nice sawn vein specimen of fresh, unaltered high grade silver ore from the world-class Cobalt Ontario deposits. Sawn on one side only.  The deposit was described in Mineralogical Record, Volume 43, Number 6.  In general, veins are predominantly composed of carbonates (calcite and/or dolomite) with arsenides and sulpharsenides of Co, Ni and Fe with native Ag and Bismuth.  Most of this material has been squirreled away in collections by now, although specimens do occasionally come to market.

silver slab

There are a few of these silver slabs available. The very bright silver really makes this piece stand out, but, unfortunately makes it all so hard to photograph. As an example the one pictured above is 66 grams for $45.

Silver, Bornite

Silver, Bornite

There are a few of these beautiful native silver w bornite specimens available. Here is a 2 inch x 1 inch, Apx. 17.5 grams – Native Silver on Bornite thumbnail specimen from San Martin, Mexico. As an example the one pictured above is 17.5 grams for $60. 

Avon Gold Rush Collectible stein

Avon Gold Rush Collectible steinGold Rush Avon brown ceramic beer stein with lid 1987 Brazil - Picture 6 of 10

1987 8 1/2” tall  San Francisco Gold Rush Handcrafted in Brazil for Avon. Each one of is individually numbered (#32017) this is the last one. $35.

For further information on these:

All the items shown here are very limited and subject to prior sale without notice.


Also see the most expensive type of gold nuggets, the Crystalline Gold Nuggets

Crystalline gold

Crystalline gold

Subscribe to our Youtube Arizona Gold Prospecting channel

Click Here for great Gold Prospecting Equipment Deals

    Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos & blog posts SHALL NOT be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, prospecting or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.

  • Keep in mind land use and land boundaries are constantly changing,  before going to a unknown location you must do extensive research not only into the current weather conditions, access and current land status.  Keep In mind private property owners and mining claim owners do not take kindly to trespassers and or claim jumpers. Always follow local laws and regulations related to prospecting and land use. Regulations and restrictions are constantly changing on BLM lands, State lands, National Monuments  and tribal lands. It is your responsibility to totally investigate any potential prospecting area  prior to heading out.  Failure to do so, could not only result in massive fines but also imprisonment and confiscation of all your equipment.


Leave a Reply

Avatar placeholder

Your email address will not be published. Required fields are marked *