World Gold Council's baseline scenario assumes 25–30% annual growth of gold prices

According to the estimates of the World Gold Council (WGC), by the end of the year, prices for the main precious metal may rise to $4,000 per ounce. However, as analysts of the organization warn, depending on geopolitical and macroeconomic factors, the outcome of this year for gold prices may be less positive.

In their recent Gold Mid-Year Outlook 2025, they noted the continuation of record growth in prices of the yellow metal. Since the beginning of the year, the prices have risen by 26% in dollar terms.

WGC's baseline forecast assumes that prices will move sideways for the rest of 2025, with a possible increase of 0–5% from current levels in the second half of the year. This is equivalent to a yearly surge of 25–30%.

At the same time, they estimate that if the global economic and financial situation worsens, demand for safe haven assets is likely to lead to a 10–15% rise in gold. On the other hand, if trade and geopolitical tensions stabilize, the precious metal may lose 12–17% of this year's gains. However, this scenario is considered unlikely by the Council's experts.