Gold News

Ryan McIntyre, an expert at Sprott Inc., advises investors to prioritize gold over the US stock market. Despite the precious metal’s price volatility in recent days, gold's surge past the level of $3,500 per ounce indicates the asset's strong upside potential.

Gold prices dipped slightly on Friday, but are still on track for a third straight week of gains. Investors remain upbeat, viewing the precious metal as a hedge against ongoing uncertainties and tensions in US-China trade relations.

The record gold rally seen in recent weeks is having a particularly strong impact on China, according to reports from Bloomberg. Gold has become the best-performing major commodity this year amid the Trump administration's trade policies that have sent shockwaves through global markets.

Midas Touch Consulting CEO Florian Grummes is confident that the rally in gold and silver will continue amid the current volatile conditions. The expert considers silver to be extremelly undervalued. However, by summer its price may rise to $40–50 per ounce.

Gold surged more than 1% on Thursday, driven by positive buying activity after a recent dip. On Wednesday, prices had fallen to a one-week low on optimism over a potential trade deal between the US and China.

The price of gold has recently rebounded after reaching a record high of over $3,500 per ounce. However, according to Bart Melek, an analyst at TD Securities, the metal's rally is just beginning—gold is still significantly undervalued.

The gold rally shows no sign of stopping. On Tuesday, the price of the precious metal hit a new all-time high, briefly exceeding $3,500. Founder of Paulson & Co. believes that the asset's value will continue to climb higher amid ongoing geopolitical and economic instability.

In their assessment of the current economic situation, JPMorgan analysts are forecasting gold prices to rise above $4,000 per ounce by the second quarter next year. This assumption is based on the expected increase in demand from investors and central banks.

After a three-year hiatus, Western investors are once again actively entering the yellow metal market. According to the World Gold Council, by mid-April, traders from North America and Europe had purchased about 240 tons of bullion through exchange-traded funds (ETFs) backed by physical metal.

Gold prices fell by 0.7% on Wednesday after US President Donald Trump backed away from threats to fire Federal Reserve (Fed) Chairman Jerome Powell. This announcement diminished investor interest in gold as a safe-haven asset.