Macquarie’s Gold Price Forecast: Is $3,500 Realistic?

Bloomberg recently published an article outlining Macquarie Group’s forecast that gold prices could surge to $3,500 per ounce in the third quarter of 2025. This bullish projection aligns with broader market expectations that gold will continue its upward trajectory due to economic uncertainties and central bank demand. However, while the article presents a strong case for higher gold prices, it also leaves room for further analysis.

Key Takeaways from Bloomberg’s Article

1. Macquarie’s Bullish Forecast

The headline claim is that Macquarie sees gold averaging $3,150 per ounce in Q3 2025, with a potential peak of $3,500. This estimate is among the most optimistic on Wall Street, signaling strong confidence in gold as a hedge against economic turbulence.

2. Factors Driving Gold Higher

The article outlines several reasons why gold prices might continue rising:

• Geopolitical Risks – Heightened trade tensions and economic instability are pushing investors toward safe-haven assets like gold.
• Central Bank Demand – Many global central banks are increasing their gold reserves, reducing reliance on the US dollar.
• Inflation and Interest Rates – Persistent inflationary pressures and expectations of loose monetary policies are keeping gold attractive as an inflation hedge.

3. Other Banks’ Projections

Bloomberg also highlights predictions from Goldman Sachs, Citi, and UBS, all of whom have revised their gold forecasts upwards. However, none are as aggressive as Macquarie’s $3,500 target. Most expect gold to stay in the range of $2,900 to $3,200 in 2025.

Final Verdict

Bloomberg’s article does a good job of highlighting Macquarie’s bullish outlook on gold, but it lacks a balanced perspective. The forecast of $3,500 per ounce is ambitious and may not fully account for potential headwinds.

Investors should remain cautious and consider a broader range of factors, including US Federal Reserve policy, global economic conditions, and market sentiment. While gold is likely to trend higher, it is uncertain whether it will sustainably reach the $3,500 level in Q3 2025.

What do you think?

Follow Us for more Precious Metals and Mining updates!