Recently, I delved into forecasts regarding gold and must admit that the prospects for the coming years look really interesting. The price of gold in 2025 has surpassed $3,000 USD, confirming bullish theories about this market. Now, as we are in 2026, I see that the precious metal is steadily rising toward the predicted levels of around $3,900–$4,000 USD.

What caught my attention is the fact that gold is reaching new all-time highs not only in dollars but in all major global currencies. This already appeared at the beginning of 2024 and was the final confirmation that the gold market has indeed entered a growth phase. I look at long-term charts — the 50-year chart shows two powerful reversal formations suggesting that this bull run will last for several more years.

Fundamentally, inflation expectations are the main driver of gold prices. The M2 money supply base and the CPI index continue to grow, creating a favorable environment for the metal. The euro looks constructive on the long-term chart, and government bonds also support the upward trend. All of this together suggests a gentle upward trend, with acceleration toward the end of the decade.

Most financial institutions — Goldman Sachs, UBS, BofA, J.P. Morgan — agree on a range of $2,700–$2,800 USD for 2025, although our estimates were more optimistic. For 2030, I forecast a peak gold price of $5,000 USD, which would be a psychologically significant level.

As for the even more distant future — gold price in 2040? Honestly, that’s already beyond the scope of reliable forecasts. Each decade has its unique macroeconomic dynamics. I can confidently forecast up to 2030, but what happens after that depends on entirely new market conditions that are difficult to predict today.

The futures market shows extended short net positions by commercial entities, which could limit growth potential, but overall everything indicates continued upward movement. Silver will have its explosion moment in the later phase of the bull run, so it’s worth keeping an eye on that metal as well.

In summary — gold has solid fundamentals for growth. The gold price in 2026 confirms a bullish thesis. If the trend continues, we should see significantly higher levels by 2030. Of course, there’s always a risk that if the price drops below $1,770 USD and stabilizes there, forecasts could lose validity, but that scenario is unlikely.