Gold Prices Set to Decline Over the Next Year, Says Solidcore Resources CEO
Gold prices are expected to experience a significant decline over the next 12 months, according to Vitaly Nesis, CEO of Solidcore Resources Plc, formerly known as Polymetal. In an interview with Reuters, Nesis forecasted that gold could drop to around $2,500, citing current market reactions as “an overreaction to global events.” However, he added that prices are unlikely to fall back to the $1,800–$1,900 range, with a premium above the historical base likely to persist.
On Friday, gold prices slipped and recorded a weekly loss, weighed down by a stronger U.S. dollar and signs of easing trade tensions between the United States and China. Reports suggest China is considering lifting tariffs on some American goods, while U.S. President Donald Trump indicated that direct talks between the two nations are already underway, fueling hopes of a de-escalation.
