July 22, 2025 – Bright prospects for precious metal investors: The gold price could rise by 11.5% to a new high of 3,679 US dollars per ounce by year-end. And double-digit growth rates (14.4%) are also conceivable for the silver price, making a price of 41.18 US dollars per ounce seem possible. This is the result of a recent survey by BullionVault, the world’s largest online precious metal marketplace with more than 115,000 private investors from 175 countries.
“Since January, gold and silver have seen a remarkable rally. And although prices have become more volatile in the interim, new highs this year are quite realistic”, explains Adrian Ash, Director of Research at BullionVault. According to the survey, a large proportion of investors firmly expect rising prices: Almost one in two respondents (46.8%) assume that the gold price will increase by 10% by year-end. A quarter of investors (25.8%) expect a 20% increase. At least 8.6% of respondents consider an increase of 30% or more likely. In contrast, only two out of ten investors (18.8%) suspect that the gold price will remain at its current level or even fall. On average, this results in a gain of 11.5%. “With a price of 3,300 US dollars per ounce at the time of the survey, the increase results in a gold price of 3,679 US dollars. This would be a new all-time high beyond the 3,500 dollars from April”, adds Ash.
Silver: Already at its Highest Level in 14 Years
Private investors also expect a significantly higher price for silver by year-end: Just under a third (30.8%) of respondents believe in a 10% increase, more than one in five (21.9%) expects a 20% gain. Another 21.9% of investors even consider an increase of 30% or more likely. The remaining quarter (25.2%), however, expects no change or a price decrease. On average, this yields an increase of 14.4% by year-end. Based on the price of 36 dollars per ounce at the time of the survey, this would result in a silver price of 41.18 dollars – this would be the highest level since the all-time high of 50 dollars in April 2011.
Key Influences on Prices in the Coming Months
BullionVault also asked investors what they believe has the greatest influence on price development in the coming months. Geopolitical tensions are most frequently cited here – one third (32.9%) of respondents see them as a decisive factor. Compared to previous surveys, this value has risen for the second consecutive time (June 2024: 29.7%; December 2024: 31.4%). Government spending and debt rank second among the strongest price drivers with 23.6% approval (June 2024: 15.3%; December 2024: 31.4%).
In contrast, ordinary market mechanisms such as “supply and demand” have a strong influence on gold and other precious metals for only 16.1% of respondents (June 2024: 21.5%; December 2024: 14.8%), and “monetary policy” is a relevant factor for only 12.7% of respondents (June 2024: 17.1%; December 2024: 16.8%). However, respondents consider “inflation” (6.0%), “stock market development” (4.6%), “gold derivatives trading” (2.1%), and “commodity prices” (1.9%) to be less decisive. “The increasing importance of geopolitical tensions shows that many investors are increasingly looking for security. Especially gold and silver thus solidify their role as a safe haven for investment in these uncertain times”, emphasizes Ash.
You can find an overview of the current gold price here, and an overview of the silver price development here.
BullionVault has been surveying its clients every six months since December 2014 about their motivations, concerns, and price forecasts. The survey is the largest, longest, and most consistent among private investors holding precious metals in their portfolios. This year’s summer survey ran from June 25 to July 7 and recorded 1,075 responses from BullionVault’s global clientele. All responses were anonymous and voluntary. The results are available in Excel upon request.
About BullionVault
BullionVault is the world’s largest online provider of gold, silver, platinum, and palladium. For 20 years, the West London-based fintech company has provided private investors with access to the low costs, high liquidity, and extremely high security of the wholesale precious metals market. It now manages precious metals worth 5.2 billion Euros for more than 115,000 users from 175 countries. Clients also include SIPP and IRA pension accounts, investment funds, corporate treasuries, and charitable foundations.
BullionVault.com offers:
- Online and smartphone trading 24/7;
- Instant settlement of physical precious metal for USD, EUR, GBP, and JPY;
- Cost-effective storage in secure vaults (London, New York, Singapore,
Toronto & Zurich);
- A unique daily audit that publicly demonstrates the full allocation of client property.
BullionVault has been a full member of the London Bullion Market Association (LBMA) since 2008 and was appointed online partner of the mining industry-backed World Platinum Investment Council for gold vaults in 2017. BullionVault is regularly cited in major British and international media, including BBC, Handelsblatt, Bloomberg, and Nikkei Business. In 2022, BullionVault received the Queen’s Award for Enterprise for the third time, this time for international trade.
For more information, visit https://gold.bullionvault.de/
