Gold Price Poised for Continued Strength in 2025 as Analysts Raise Targets
Gold Counters Surge as Safe Haven Demand Rises Amid Concerns Over US Economy
Express News | Spot Gold Hits Record High at 2,990.26/Oz
Trump becomes the biggest Bullish factor, Gold hits new highs again, and another major country has bought a large amount of Gold in the past few months.
As the destructive trade policies that may be implemented by the Trump administration create market uncertainty, along with heightened geopolitical tensions globally, investors are increasingly turning to Gold as a traditional safe-haven asset. In recent months, the Iranian government has also significantly increased its Gold holdings, converting 20% of its Forex reserves into Gold. Macquarie Group predicts that Gold prices will soar to $3,500 per ounce in the second quarter, and BNP Paribas also expects future Gold prices to be far above $3,000 per ounce.
After Wall Street raised the Target Price, the price of Gold reached a new high, with New York futures gold surpassing the historic $3,000 mark.
On Thursday, the New York gold futures surpassed the $3000 mark, setting a historical high, and increased by over $50 during the day.
The tension over tariffs has intensified, and Gold prices have surged to a historic high, approaching the $3000 mark.
On Thursday, due to Trump's latest threat to impose tariffs on European imported Commodities, market risk aversion intensified, and Gold prices reached a historic high, with Futures Gold temporarily rising nearly 1.8% approaching the $3000 mark, and Gold and Silver mining stocks saw broad gains. Earlier, Goldman Sachs once again raised its Gold price forecast, stating that central bank purchases of Gold are the core driving force, and the Gold price could rise to $3250 by the end of the year.