Over the past several years, so-called “gold bugs” have been among the most validated investors in the market. As of the September 19 close, the SPDR Gold Shares (NYSEARCA: GLD) fund has risen by nearly 118% over the past three years. Gold’s spot price trades at around $3,680 per ounce, compared to around $1,675 in 2022.
Several investment banks see the price of gold going even higher, with multiple analysts lifting their forecasts. Below, we’ll break down the trends driving gold’s gains that look poised to continue, and detail how high these analysts see the metal going.
