Gold's Path to $6,000 and Silver's Return Above $90 Depend on Renewed Investor Confidence – Metals Focus

Analyst Matthew Piggott from Metals Focus notes gold is consolidating amid inflation and rising rates rather than entering a bear market. Institutional and central bank buying keeps prices above $4,000 an ounce. The firm forecasts gold averaging $4,600 this year, $5,330 in 2027, and nearing $6,000 by Q4 next year.

Silver is projected to rise from $72.60 this year to $84.40 in 2027 and surpass $90 in the fourth quarter. Piggott highlights that structural drivers like government debt and de-dollarization persist despite competition from equities and other assets.

The Middle East conflict delays recovery by boosting energy prices and inflation. Seasonal Asian demand may provide support, yet progress toward resolving tensions is needed for renewed rallies, with the Fed unlikely to pursue aggressive tightening.