A new update from bmo
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The analysts have raised their price forecasts by 5% across the board, as they don’t expect the price to drop below $2,000 an ounce in the next four years. BMO left its long-term forecast unchanged at $1,650 an ounce.
In the nearer term, the Canadian bank sees gold prices averaging around $2,263 an ounce this year, up 4% from their previous average estimate of $2,168.
Looking to 2025, BMO sees gold prices averaging around $2,200 an ounce, up 5% from the previous estimate of $2,100 an ounce.
Although gold is expected to remain fairly range-bound through the third quarter, BMO is looking for higher prices by year-end, with an average Q4 estimate of $2,350 an ounce.