A scenario-based thinking tool for the gold price
GoldSight generates projections shaped entirely by your economic expectations. The calculation starts from the live spot gold price at the top of the page. This value updates automatically, but you can also click on it to set your own starting price.
The next step is to pick a ready-made narrative from the Future Scenarios panel. Each narrative represents a particular macroeconomic setting (crisis, inflation, tight money, etc.). The Scenario Intensity slider lets you strengthen or soften that setting. If you want to split the ten-year horizon into separate stretches, the Add Period button lets you assign a different story to each one: for example, a short crisis followed by a long recovery.
When analyzing the chart, what you should really focus on is not the blue line in the middle, but the 90% confidence interval shown by the shaded area. The future is uncertain, and the model does not offer a single point forecast. A wider shaded area means higher uncertainty in that narrative. The dashed lines provide a separate comparison: they show where the price would go if the average returns of the past 10, 30, and 50 years simply continued today. To see the price stripped of inflation—in real purchasing power terms—you can use the NOMINAL / REAL switch above the chart.
If you want to test your own economic expectations instead of the ready-made narratives, you can use the Detailed Settings panel. Here you can directly manage core parameters like the pace of money printing, real interest rates, demand, and dollar strength. The “Which event → which slider?” guide offers tips on how to set the sliders when a war breaks out or a new rate decision is announced. Once you change the settings, the model no longer uses the ready-made narrative; it relies entirely on the values you provide.
To see how the model reacted to major crises and shocks in the past, you can use this section. Driver Test takes the settled inflation and interest rate data of your chosen period and asks you to move the demand slider to close the remaining price gap, letting you measure the scale of investor panic at the time. Narrative Test plays the period from start to finish like a story, based only on its events. This section clearly shows how accurately the model works when given the right story, and where its limitations lie.