Gold News

According to World Gold Council (WGC) data, global central banks collectively increased their gold reserves by 20 tons in May. Kazakhstan was the most active buyer, accounting for 7 tons of this total.

Reuters experts suggest gold may be included in the list of “critical minerals” amid Donald Trump's uncertain policies and rapidly changing trade conditions. Since Trump's election victory in the US, gold has appreciated by more than 32%.

Gold prices are consolidating within the $3,320–$3,360 per ounce range ahead of today’s (July 3) release of US employment data. The current state of the American labor market could influence the Federal Reserve’s future monetary policy, thereby impacting the precious metal’s value.

According to Fawad Razaqzada, market analyst at City Index and FOREX.com, gold prices are likely to consolidate in the second half of 2025. This will be due to a decline in demand for safe haven assets.

Analysts at the World Bank project gold prices to pick up over the next 18 months, while silver is also expected to rise further in 2025 and 2026.

Heraeus analysts note that despite gold pulling back from April highs, prices of the yellow metal remain high. This could further depress Indian demand.

Silver struggles to hold critical support at $36 an ounce as gold consolidates near $3,300 per ounce. However, Bernard Dahdah, analyst at Natixis, notes that silver may continue rising as it breaks away to forge its own path.

According to Citi's forecast, gold prices will stabilize between $3,100 and $3,500 per ounce in the third quarter of this year. Recently, the precious metal has been declining due to easing Middle East tensions and improving global economic growth prospects.

Amid sluggish trading activity and reduced geopolitical risks, gold prices are facing downward pressure this week, testing key support levels. However, analysts at Kitco News suggest that sustained central bank demand for bullion could mitigate further declines in the precious metals market.

Gold prices reversed course on Monday on the back of a weaker dollar, heading upward. A 0.2% drop in the US dollar index made bullion cheaper for holders of other currencies and helped restore interest in the yellow metal.