Baku: Fitch Ratings international rating agency has raised its gold price forecast for the years 2025-2027, APA-Economics reports citing the rating agency.
According to Azeri-Press News Agency, Fitch has increased its average gold price forecast for 2025 from $2100 to $2400, for 2026 from $1700 to $2100, and for 2027 from $1700 to $2000. In other words, the forecast has been raised by $300-400 for the years 2025-2027. The agency noted that the increase in the forecast is due to the rise in demand for gold from investors, driven by geopolitical risks.
Fitch has lowered its price forecast for 2028 from $1800 to $1600. Analysts believe this could be explained by market stabilization, a decrease in trade risks, or a shift towards alternative investments. The agency also set its long-term gold price forecast at $1600. This reflects the structured value dynamics of gold.
Note that in recent days, the price of gold hit record levels. On March 19, the price of gold futures for one troy ounce exceeded $3,046 in commodity markets.