The price of gold has been a hot topic of discussion in 2025. In late April 2025 the precious metal touched a record high of £2,610 ($3,500) per troy ounce.
This makes for the 28th all-time high of the year. Gold buyers across the country have seen queues not seen since the 2011 gold rush. The question people often ask: if prices are already in the stratosphere, is there still room to climb by 2030 or should I look to cash in now?
A gold forecast spectrum wider than Hadrian’s Wall
Predicting what the price gold of gold will be in 2030 is a treacherous task, however we can look to the experts. With the gold spot price usually quoted in US dollars, forecasts follow suit.
– World Bank (baseline macro): published in 2021, before the latest surge, its long-range table shows gold at $1,653 in 2030. However, it also showed gold to be $1,708 in 2025, where we are infarct almost double that price currently. This shows the challenges of forecasting, even for the most well informed organisations. World Bank
– Fitch Solutions pegs gold in 2026 at $1,800 and implies a gentle decline thereafter. FitchRatings.com
– Oxford Economics released a forecast in 2024 arguing that persistent central-bank buying and tariff-driven volatility should keep gold above $3,000 by end-2026, with upside risks beyond. Oxford Economics
– J.P. Morgan has taken a very bullish view and in April 2025 just raised its sights to $4,000 by Q2 2026, citing 700-tonne-per-quarter investor demand. Reuters
– InvestingHaven, released in 2025, InvestingHaven sketches a $5,155 target for 2030. Investing Haven
– Axi/LBMA’s “Rational Case for $7,000” pushes the envelope further, premised on negative real rates and de-dollarisation. AxiLBMA
The elephant in the gold vault
The World Gold Council reported that central banks bought 1,045 tonnes of gold in 2024 and another 244 tonnes in the first quarter of 2025, this makes for the third year running that bank purchases have topped four figures. Emerging-market institutions treat bullion as sanction-proof liquidity, a trend unlikely to reverse while geopolitics stays febrile. Analysts on the bullish side of the ledger assume this central bank buying keeps the bears at bay, if it fades we may see yields normalise.
Why gold’s future still hangs on three big forces
1. Interest rates: When savings rates stay lower than inflation, gold looks attractive because it doesn’t lose spending power. If the Bank of England and the US Federal Reserve keep this “below-zero” pattern, gold can keep shining. If rates jump, the precious metal can lose some appeal.
2. Tariffs and trade rows: Every time a major power slaps on new tariffs as President Trump has done this year, with other economies retaliating, investors get nervous and buy safe havens. Each fresh round of duties has nudged the gold price up by roughly £50–£80 an ounce since January.
3. New tech demand: Electric cars and next-generation computer chips need tiny amounts of gold for connectors. It isn’t much today, but most forecasts over $5,000 (£3,900) an ounce assume technology will use about ten per cent more metal by 2030. A lot of this gold in electronics is also lost in landfill when the tech reaches the ned of its useful life.
Cash-in your gold or hold? A household decision matrix
Everyone has their own time frames, and financial goals. If you need the cash within now, then cashing in your gold gold jewellery could be a sensible decision given the current prices. If there is no immediate need to liquidate your gold, then holding, monitoring prices and forecasts by the experts can be a good idea.
British legal tender coins such as Britannias and Sovereigns remain CGT-exempt because they are legal tender, but bars are not. If forecasts above $5,000 prove right, a bar sale in 2030 could crystallise a taxable gain. You should consider your own personal tax liabilities when timing your sale.
Ultimately, selling your scrap gold at a historic price high will never be a poor decision. There are many well established businesses dedicated to buying gold, online or on the high street. Some of the sector leaders include BullionByPost, Cheshire Gold Xchange, and Chards.
The verdict
Gold forecasts for 2030 span from £1,300 to over £5,500 per troy ounce. The middle ground, endorsed by banks such as J.P. Morgan and consultancies like Oxford Economics hovers around £3,100-£3,900 per troy ounce. That suggests today’s record price is high but not necessarily irrational. For households whose budgets would breathe easier with an instant lump sum, selling part of the gold jewellery pile at historic highs is simple prudence. For those treating gold as long-term insurance, the weight of official buying, persistent tariff wars and a likely return to negative real rates argue for patience.
