Gold to reach $8,900 by 2029? A startling report says so — here's what investors should keep in mind

Gold price could increase by $4,000 to $5,000 in the medium term and potentially skyrocket to $8,900 by 2030, a new report revealed, as per ANI. Investment and asset management firm Incrementum wrote in the ‘Gold We Trust Report 2025’ that “The forecast corridor of $4,800 to $8,900 depends mainly on how inflationary the next five years will be,” reported ANI.

Key Drivers Behind Gold’s Rise

The major drivers influencing gold prices to rise are monetary policy, inflation trends, and geopolitical dynamics, as per the report. The new report also highlighted that the ongoing bull market for gold is not just a short-term phenomenon but is a long-term trend, according to ANI.

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Expect Corrections Alongside Growth

Meanwhile, the report has also warned investors about the volatile nature of gold, in which corrections are to be expected, as per ANI. Following a recent sharp 25% rally between January and April 2025, prices of gold have eased in recent months, driven by trade tensions and a shift in market sentiment, as per the report.

How Much Gold Do Investors Actually Hold?

The report also revealed that family offices and international markets as a whole invest merely around 1% of their portfolios in gold and other precious metals, as per ANI. This investment makes gold sit alongside speciality assets such as art, antiques, and infrastructure, and far behind more popular investments like private equity, real estate, and cash, according to the report.

Gold Price Outlook

Gulf News recently reported that gold prices are expected to increase once again, supported by factors such as fewer anticipated rate cuts by the US Federal Reserve, as per ANI.

While even JP Morgan has predicted that gold may reach $6,000 per ounce in 2029, which is an 80% jump from the current price, according to the report.

FAQs

Why is gold expected to rise so much?
Because of factors like inflation, central bank policies, and global tensions that increase demand for safe-haven assets.

Is gold’s recent price increase sustainable?
The report suggests it’s part of a longer-term trend, but volatility and corrections are expected along the way.