Forecasts for Gold Futures with 12-period horizon (monthly)
Describes a steady rise in gold prices over the next year. The main drivers are a softer US labor market, expectations for easier monetary policy, and ongoing geopolitical tensions that keep safe-haven demand intact. The current price is about $4,243 per ounce (as of December 1, 2025), with a forecast to reach around $4,928 by December 2026, roughly a 16% gain. In the near term, gold may pause or pull back a bit as investors position ahead of key data and Fed communications, but the overall path suggests a gradual, controlled increase driven by lower real yields and the policy outlook. Risks include a faster rebound in growth, less easing, or a stronger dollar.