Gold Hits New All-Time High of $3,132: Can It Surge Even Higher?
Gold prices are skyrocketing on Thursday as the XAU/USD index touched a new all-time high of $3,132. The precious metal spiked more than 1.25% surging close to 40 points in the day’s trade. The bullish trajectory comes after US President Donald Trump announced a 90-day pause on tariffs. The new policy made the global markets rally with Dow Jones rising nearly 3,000 points in the charts.
Also Read: Two Economic Giants Team Up to Shatter US Dollar Dependence with 6 De-Dollarization Projects
The prices of gold have surged close to 19% year-to-date and are among the top-performing assets in the commodity markets. Retail investors, institutional funds, and central banks of developing countries have been aggressively buying the metal since 2022. The glittery asset has delivered profits to all who took an entry position two years ago.
How High Will Gold Prices Rise Next?
Also Read: 2 Stocks to Consider Buying as US Markets Rebound
Leading investment bank Goldman Sachs recently predicted that gold prices are on the way to hitting the $3,300 mark. “The increased forecast is underpinned by higher-than-expected demand for gold from central banks, which have been increasing their reserves of the commodity since the freezing of Russian central bank assets in 2022, following Russia’s invasion of Ukraine. This scenario would drive the gold price as high as $3,300 per troy ounce by the end of 2025,” the investment bank wrote.
That’s a surge of another 6% from its current price of $3,122. Therefore, an investment of $1,000 in gold could turn into $1,060 if the forecast turns out to be accurate. Gold remains in heavy demand due to the uncertainties of the global markets which is being affected by Trump’s tariffs.
Also Read: Pi Network Surges 100% After Breakout: Is $1.87 the Next Target?
The precious metal is a safe haven for institutional clients to park funds for safety in times of financial uncertainties. In addition, central banks accumulating tonnes of gold every month to diversify their reserves is also making gold prices surge. Just recently, Poland’s central bank purchased 16 tonnes of gold last month and surpassed China in monthly accumulation.
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Gold Breaches $3,200: Here’s When It Can Reach $3,300 & $3,500 Next
Gold Hits New All-Time High of $3,132: Can It Surge Even Higher?
Gold prices are skyrocketing on Thursday as the XAU/USD index touched a new all-time high of $3,132. The precious metal spiked more than 1.25% surging close to 40 points in the day’s trade. The bullish trajectory comes after US President Donald Trump announced a 90-day pause on tariffs. The new policy made the global markets rally with Dow Jones rising nearly 3,000 points in the charts.
Also Read: Two Economic Giants Team Up to Shatter US Dollar Dependence with 6 De-Dollarization Projects
The prices of gold have surged close to 19% year-to-date and are among the top-performing assets in the commodity markets. Retail investors, institutional funds, and central banks of developing countries have been aggressively buying the metal since 2022. The glittery asset has delivered profits to all who took an entry position two years ago.
How High Will Gold Prices Rise Next?
Also Read: 2 Stocks to Consider Buying as US Markets Rebound
Leading investment bank Goldman Sachs recently predicted that gold prices are on the way to hitting the $3,300 mark. “The increased forecast is underpinned by higher-than-expected demand for gold from central banks, which have been increasing their reserves of the commodity since the freezing of Russian central bank assets in 2022, following Russia’s invasion of Ukraine. This scenario would drive the gold price as high as $3,300 per troy ounce by the end of 2025,” the investment bank wrote.
That’s a surge of another 6% from its current price of $3,122. Therefore, an investment of $1,000 in gold could turn into $1,060 if the forecast turns out to be accurate. Gold remains in heavy demand due to the uncertainties of the global markets which is being affected by Trump’s tariffs.
Also Read: Pi Network Surges 100% After Breakout: Is $1.87 the Next Target?
The precious metal is a safe haven for institutional clients to park funds for safety in times of financial uncertainties. In addition, central banks accumulating tonnes of gold every month to diversify their reserves is also making gold prices surge. Just recently, Poland’s central bank purchased 16 tonnes of gold last month and surpassed China in monthly accumulation.
Read More