Gold Prices Prediction by Gold Miner Solidcore
Gold prices may face significant downward pressure over the next 12 months, according to Vitaly Nesis, CEO of Solidcore Resources Plc, Kazakhstan’s second-largest gold miner.
Speaking to Reuters, Nesis forecasted that gold could drop to around $2,500 per ounce, suggesting a sharp correction from recent highs. “There will be no return to the levels of $1,800–$1,900,” he stated. “The premium to the base level will remain. But right now, this is an overreaction to what is happening in the world.”
Gold Prices Dip Amid Stronger Dollar and Easing Trade Tensions
On Friday, gold prices dropped alongside a weekly decline, triggered by a stronger U.S. dollar and signs of easing U.S.-China trade tensions.
The rising dollar typically weighs on gold by making it more expensive for international buyers. Meanwhile, reduced geopolitical fears often dampen gold’s appeal as a safe-haven asset.
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Solidcore Sees No Major Rebound to Previous Lows
Formerly known as Polymetal, Solidcore Resources Plc expects that while gold will remain elevated compared to its historical averages, the current prices may represent a short-term spike rather than a sustainable new plateau.
Nesis’s comments highlight the growing debate among analysts and mining executives over whether the recent surge in gold prices — driven by inflation fears and global instability — is sustainable.
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