Last week, as growing geopolitical and economic uncertainty shook world markets, gold prices broke through the $3,200-per-ounce barrier for the first time, hitting a record high of $3,245.69 per ounce.
In an extreme risk scenario, gold prices might hit $4,500 per ounce by the end of 2025, according to international investment bank Goldman Sachs, which cited concerns about a recession and the growing US-China trade conflict.
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However,according to reports,Goldman Sachs increased its projected price for gold to $3,700 an ounce by the end of 2025, marking its third increase of this kind this year. The investment bank had raised its 2025 gold price prediction to $3,300 an ounce earlier in March.
According to reports, an investment bank claims that growing worries about the US economy, which are being exacerbated by the US-China trade conflict, have made gold a more attractive recession hedge.
Last week, as growing geopolitical and economic uncertainty shook world markets, gold prices broke through the $3,200-per-ounce barrier for the first time, hitting a record high of $3,245.69 per ounce. Both physical purchases and exchange-traded funds (ETFs) saw strong demand for the yellow metal.
Citing heightened investor interest in actual bullion and exchange-traded funds (ETFs) in recent weeks,Goldman Sachs said it was putting itself in a position to use gold as a hedge against the mounting possibility of a US recession.
The increase in costs and demand coincides with growing trade tensions between the United States and China. Beijing responded with retaliatory tariffs of up to 125% on American goods after the US increased its taxes on Chinese imports to a total of 145%.
Furthermore, US President Donald Trump declared his intention to apply high “reciprocal” tariffs to important US trading partners. A universal 10% tariff has already been imposed, despite the 90-day delay in implementation. Additionally, the administration announced upcoming targeted taxes on medications and gadgets.
In recent months, a number of significant central banks throughout the world, especially in Asia, have increased their gold purchases. This pattern illustrates rising fears of a U.S. recession, particularly in light of the Trump administration’s increased economic uncertainties.
The current price of gold :
Monday saw a decline in gold prices after US President Donald Trump reduced trade tensions by removing tariffs on laptops, smartphones, and other devices that are mostly imported from China.
Spot gold was trading at $3,223.67 an ounce,down 0.4%. According to Reuters,bullion reached a record high of $3,245.28 during the previous session. US gold futures dropped to $3,240.90,down 0.1%.
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