Gold News

Gold prices surged last week as renewed conflict in the Middle East reignited demand for safe-haven assets. According to Kitco News, the precious metal soared past $3,400 per ounce, nearing new all-time highs.

The cost of gold exceeded $3,400 per ounce, but continues to fluctuate below the April’s historical high of $3,500 per ounce.The asset maintains a significant advantage in the precious metals sector due to the declining appeal of the US dollar and large-scale purchases by central banks.

A decrease of the indicator value may contribute to the fall in quotes of Gold.

An increase of the indicator value may contribute to the fall in quotes of Gold.

An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.

A decrease of the indicator value may contribute to the rise in quotes of Silver, Gold and the fall in quotes of USD.

Gold emerged as another in-demand asset last year. Global central banks boosted their bullion reserves by over 1,000 tons, a record amount, doubling the annual level seen in the previous decade.

Increased trade tensions and geopolitical uncertainty will force global economic growth to fall to its lowest level since 2008, excluding periods of global recessions. Against this backdrop, precious metals such as gold, silver, and platinum will receive support.

Wells Fargo forecasts that gold prices could hit record highs by 2026 due to ongoing global economic uncertainty. The bank's analysts project the precious metal may rise to $3,600 per ounce following a potential short-term correction to $3,000–3,200 by late 2025.

Kitco News says the gold market faced extraordinary volatility on Monday amid trade talks between the US and China. Prices were falling despite a weaker dollar.