EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SurveysOct 16, 2019
Gold Price Expected to Continue to Climb in 2020
The latest Reuters poll has the metal averaging more than $1,400/oz. next year, while some analysts predict the spot price could hit $2,000.
The price of gold is expected to average $1,425/oz. next year, up from $1,360 this year, the latest Reuters poll shows. (Photo courtesy of United Precious Metals)
New York—Gold is expected to average more than $1,400/oz. next year, up from $1,360 this year, a recent Reuters poll shows.
Reuters publishes a precious metals price poll every quarter, combining predictions from two dozen or more analysts.
In the latest poll, done at the beginning of September, analysts predicted gold would average $1,393/oz. in the third quarter, $1,416 in the fourth quarter and $1,360 for the entire year.
The 2020 average for gold is forecast to rise to $1,425/oz.
The Reuters poll represents averages, not the actual price gold hits at any point during the day, and includes predictions from more than 30 participants, which is why it is less bullish than the note released by Citi analysts in mid-September, which predicted spot gold prices could top $2,000 an ounce in the next year or two.
Still, both sources point toward the gold price going up.
Unlike other metals, which are tied to market fundamentals such as supply and demand, gold is “very responsive” to certain macro-economic developments, said Johann Wiebe, a lead metals analyst on the GFMS team at Refinitiv.
Currently, those include the Federal Reserve lowering interest rates and the ongoing U.S.-China trade war.
“People are uncertain; that’s why the gold price goes up,” he said, noting the best example of gold prices reacting to macro-economic conditions was when it skyrocketed during the 2008 financial crisis, as investors lined up to buy gold investment bars and coins amid the global financial meltdown.
In the jewelry industry, the high price of gold led retailers to push buyback programs while swapping out gold for silver in display cases.
While Wiebe recognizes there is a lot of uncertainty in the world right now, he said Refinitiv is more modest in its exact forecast for gold and will need to see economic factors take a firmer hold before it predicts gold will breach $2,000 an ounce.
Platinum and Palladium Prices
Wiebe said platinum will remain less expensive than gold for the foreseeable future, though the Reuters poll has the white metal’s price rising next year too.
In the third quarter, the poll has platinum averaging $858/oz. and climbing to $880 in the fourth quarter, finishing the year with an average of $851.
In 2020, the poll has the average platinum price at $926/oz.
Analysts are also bullish on palladium.
Ten years ago, the white metal averaged around $300/oz., data supplied by Refinitiv shows (see chart below). 
Today, the price of palladium is well over $1,000/oz. due to strong auto catalyst demand driven by tighter emissions legislation in all major markets and the route toward the widespread adoption of electric vehicles going through hybrids (palladium is used to cut pollution from gasoline engines and is used in hybrid vehicles too).
Supply is just not high enough, Wiebe said, and the market is in repeated, severe deficit.
In the Reuters poll, analysts predicted palladium will average $1,478 in the third quarter and $1,465 in the fourth, finishing the year at $1,448/oz. The predicted average for 2020 is only slightly lower, at $1,444.
Silver Shadows
The price of silver is expected to mirror that of gold in the near term, rising in the fourth quarter and again next year.
The Reuters poll has silver averaging $15.79 an ounce in the third quarter before increasing to $16.13 in the fourth. The metal’s average for 2019 is expected to land at $15.59.
Next year, the price of silver is expected to increase to an average of $16.73.
Supply is just not high enough, Wiebe said, and the market is in repeated, severe deficit.
In the Reuters poll, analysts predicted palladium will average $1,478 in the third quarter and $1,465 in the fourth, finishing the year at $1,448/oz. The predicted average for 2020 is only slightly lower, at $1,444.
Silver Shadows
The price of silver is expected to mirror that of gold in the near term, rising in the fourth quarter and again next year.
The Reuters poll has silver averaging $15.79 an ounce in the third quarter before increasing to $16.13 in the fourth. The metal’s average for 2019 is expected to land at $15.59.
Next year, the price of silver is expected to increase to an average of $16.73.
More on Surveys
The Latest
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
Weekly QuizApr 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
