Investors are now turning back to gold as their key safe-haven asset, JPMorgan said in a report released Thursday. The bank noted that significant capital is moving out of Bitcoin into exchange-traded funds (ETFs) and precious metals derivatives.
Some of the largest global banks, including Bank of America, Citigroup and Macquarie, remain optimistic about gold, with its price exceeding $3,000 per ounce.
Gold prices surged to a record high for the second time in a week on Tuesday, rising above $3,013. As reported by Reuters, uneasiness sparked by President Donald Trump’s tariff policy continued to fuel demand for safe-haven assets.
Gold surpassed the $3,000 per ounce level for the first time ever during trading on Friday, confirming its role as a safe haven amid global uncertainty.
Strategists at RBC Global Mining Equities have increased their projections for gold prices, expecting a more active growth in the cost of the yellow metal in the coming years. Experts now expect the average gold price to reach $2,844 per ounce in 2025.
UBS Group AG revised its gold price forecast higher, expecting prices to rise to $3,200 per ounce. The forecast is based on the intensifying tensions in global trade, causing stronger demand for safe haven assets.
15 analysts participated in the last week’s Kitco News poll on the outlook for gold price. Nine of them expect the precious metal to rise this week. Three analysts predict a decline, while the remaining respondents forecast a consolidation.
On Monday, gold is trading below the record level of $3004.91 reached at the end of last week, but still holding high. The metal's price is supported by geopolitical tensions, concerns regarding tariffs, and hopes of a Federal Reserve (Fed) interest rate cut.
A decrease of the indicator value may contribute to the fall in quotes of Gold.
Uncertainty in the global economy and Trump's tariff plans caused a big sell-off in the US stock market. BNP Paribas strategists believe these factors are likely to push gold prices higher over the next while.
Gold hit a record high of $2,993.87 during Friday’s morning session. The market rally has been driven by uncertainty over US tariffs, trade tensions and expectations of Federal Reserve monetary easing.
Gold is not just glitter and beauty, but also a key asset in the financial sector.
Gold appears to be something more than just a metal. It is an indicator of economic stability and a tool for managing finances.
Staying up-to-date with the latest gold news is a key to successful management of your funds.
