FreshForex News

[FreshForex]

Have you seen gold? New all-time high – $3,000+ per ounce!

The price of Gold vs. the US Dollar (XAU/USD) has hit a new record, surpassing $3,050 per ounce!

The main drivers behind this surge include escalating conflict in the Middle East and concerns over a slowing US economy. Additionally, US trade wars with China, Canada, and Mexico continue to push global gold prices higher.

The Middle Eastern conflict escalated after Israeli airstrikes on Hamas targets in Gaza, driving demand for gold as a safe-haven asset. Another contributing factor is weak US retail sales data for February, which grew only +0.2% instead of the expected +0.7%, heightening recession fears. Moreover, ongoing trade wars — linked to import tariffs introduced by Donald Trump — are putting pressure on global markets, further increasing gold’s appeal as a protective asset.

April gold futures are currently trading around $3,000 per ounce. Since the beginning of 2025, the precious metal has gained over 14%, reinforcing its status as a reliable asset during uncertain times.

Major investment banks forecast further price growth:

• UBS Group expects $3,200 per ounce by year-end.
  
• Macquarie Group forecasts a rise to $3,500 in Q2.
  
• BNP Paribas predicts an average price above $3,000 throughout 2025.
  
  

Analysts at FreshForex emphasize that in times of global uncertainty and rising risks, gold remains the ultimate safe-haven asset, expecting new all-time highs ahead. Seize the opportunity now!
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