Gold Outlook

Expert gold market insights
Our quarterly gold outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for gold is analysed. Our research team produce gold price range forecasts as part of the report.

Gold Outlook – Q2 2025
Gold surged to record highs in April, driven by trade policy volatility, rising inflation expectations, and dollar weakness. Investor positioning remains bullish, with strong ETF inflows and elevated net longs providing structural support. Heading into Q2, gold will likely stay well-supported amid safe-haven demand and persistent policy uncertainty.
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