Gold News

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

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

Chantelle Schieven, Head of Research at Capitalight Research, told Kitco News she is maintaining her forecast for gold, according to which the price of the asset will rise to $3,200 per ounce this year.

Gold hit a record high of $3038.91 per ounce on Wednesday, fueled by heightened geopolitical issues and trade instability. Prices are also being driven by investor concerns over escalating conflicts in the Middle East.

Commerzbank analyst Carsten Fritsch raised the forecast for the year-end silver price from $33 to $35 per ounce. Such a change is due to silver reaching a new four-month high. According to the expert, the metal may soon trade steadily above $34.

The stock market decline and rising investor concerns about a potential US recession are driving demand for gold. Additionally, global economic instability is enhancing gold's appeal as a safe-haven asset, according to Kitco News.

ANZ Financial Group has raised its gold price forecast to $3,100 per ounce for the zero-to-three-month period and to $3,200 per ounce for the up to six-month period. The organization maintains a bullish outlook on gold, driven by rising geopolitical instability.

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.