Gold Price Forecast – A Final Dip to Fresh Lows Before the Breakout Above $3,000

Gold

Gold reversed sharply after testing resistance near $2,760, which could mark the end of the rebound. Progressive closes back below the 50-day EMA would establish a secondary decline back towards $2,500. Once prices bottom, we foresee a run towards $3,000+ by March or April.

Silver

Silver formed an outside reversal day, potentially marking the end of this rebound. A secondary breakdown below $30.00 is becoming likely, with a measured target near $28.25. We expect a strong 2025 for silver with a $40+ target.

Platinum

Platinum has been stuck between $800 and $1,200 for a decade. A dip below $900 is likely if metals and miners rollover.

GDX

Miners reversed after testing $39.00, which could mark the end of the multi-week rebound. Prices would have to close above $38.50 to signal more upside. Otherwise, the odds favor a decline to fresh lows into year-end.

GDXJ

Thursday’s bearish reversal supports an end to this rebound, increasing the likelihood of fresh lows at year-end.

SILJ

Silver juniors reversed after a relatively weak bounce. A secondary breakdown from here could trigger a retest of support near $10.50 before bottoming.

NEM

Newmont remains below its 200-day MA, and a breakdown below $40.00 is likely if the gold rebound is over.

BARRICK

The rebound in Barrick failed to recapture the 200-day and the trend looks poised for fresh lows.

Conclusion

Metals and miners are undergoing a correction after strong gains in 2024. A bottom is expected in January, with gold likely testing $3,000 by March or April. In 2025, we anticipate silver will take the lead, outperforming gold and exceeding $40.00.

AG Thorson is a registered CMT and an expert in technical analysis. For more price predictions and daily market commentary, consider subscribing at www.GoldPredict.com.