Gold Prices Hit $3,334.20, Surpass $3,300 Amid US-China Trade Tensions; Goldman Sachs Forecasts $3,700

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Updated Apr 16, 2025, 10:58 AM

Gold prices have surged to a record high, surpassing $3,300 per ounce for the first time in history, reaching $3,334.20. This milestone was achieved amid escalating trade tensions between the United States and China, which have heightened investor demand for safe-haven assets. The price increase reflects a broader market shift towards gold as a hedge against economic uncertainty and potential recession risks. The surge in gold prices has been driven by a combination of factors, including a weakening U.S. dollar and increased demand from central banks. Analysts from Goldman Sachs and UBS have raised their year-end gold price forecasts, with Goldman Sachs predicting a rise to $3,700 per ounce by the end of 2025 in its third revision this year. This optimism is fueled by expectations of continued central bank hoarding and higher inflows into gold-backed exchange-traded funds (ETFs), with 52 tonnes of net inflows and $4.7 billion in investments last week alone. The record-breaking gold prices come at a time when global economic uncertainty is on the rise, exacerbated by U.S. President Donald Trump's tariff policies. Investors are increasingly turning to gold as a safe haven, with the metal gaining over 20% this year, up 22% year-to-date and over 25% overall. The latest price surge underscores gold's role as a reliable asset during times of geopolitical and economic turmoil, with prices hitting $3,245, $3,260.51, $3,267, $3,275, $3,280, $3,283.76, $3,286, $3,290, $3,306, $3,317, and $3,310 in recent trading sessions.

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عين ليبيا

@EanLibya

Amid rising trade tension, gold prices hit an all-time high during trading on Wednesday. The price of gold in spot transactions rose 1.7 percent to $3281 per ounce (ounce) and had peaked at $3275.20 per ounce earlier in the session. Details: https://t.co/gvUo6a45XR