Overview

• Gold prices reached a record high of nearly $3,148 per ounce on April 1, 2025, marking a 20% increase since the start of the year.
• The surge is fueled by heightened economic uncertainty, including escalating conflicts in Ukraine and the Middle East, and aggressive U.S. tariff policies under President Trump.
• Central banks, particularly in emerging markets like China, India, and Turkey, have significantly increased their gold reserves, with over 1,000 tons purchased globally for the third consecutive year in 2024.
• The U.S. Federal Reserve's anticipated interest rate cuts are further enhancing gold's appeal as a non-yielding safe-haven asset.
• Global debt levels, projected to exceed $100 trillion by the end of 2025, are intensifying concerns about economic stability and driving investor demand for gold.