Gold Blows the Lid Again, Spot Reaches Over $3,050 as Markets Anticipate Turmoil

Spot Gold Keeps Growing, Inches Higher Towards $3,100

Gold seems unstoppable in international markets, as the demand of investors seems to be ever-growing. The precious metal managed to reach prices of $3,057 per troy ounce in spot markets during Thursday’s session, which many traders took as a sign that there is still room for growth.

Despite already breaking several all-time highs, accumulating a price increase of over 13% this year, experts have pointed out that the current panorama seems to be enticing higher prices for metals, including silver and copper.

The Federal Reserve’s projected cuts, and the recent talks of President Donald Trump calling the reserve to accelerate these cuts as tariffs get enacted, might also act as a catalyst for higher prices. Gold, as a non-yielding asset, traditionally flourishes in lower-interest and weaker-dollar scenarios.

The re-ignition of the hostilities in the Middle East, and the still ongoing conflict between Russia and Ukraine, might add to the macro fluctuation powering gold’s upward run.

OCBC forex strategist Christopher Wong remarked on this notion, telling Reuters that “for now, gold’s appeal as a safe haven and inflation hedge has further strengthened in light of those geopolitical concerns and tariff uncertainty,” highlighting the effect that tariffs had on the recent gold’s price movements.

However, some think that the treasured metal, which has already broken its all-time-high numbers 16 times this year, might experience a correction before climbing higher. “So far, corrections have been relatively short-lived and well bid… $3,090-$3,100 may see some resistance,” Said Nicholas Frappell, global head of institutional markets at ABC Refinery.

Bond King Jeffrey Gundlach recently stated that gold might reach $4,000 in the future, citing central bank demand as the key drive behind this rise.

Read more: Bond King Jeffrey Gundlach Predicts $4,000 Gold Incoming