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4w ago

Gold Prices Hold Above $3,000 Despite Market Sell-Offs and Trade Tensions

Strong central bank demand and geopolitical instability sustain gold's safe-haven appeal, even as technical sell-offs impact short-term prices.

President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, D.C.
Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth/File photo
Gold had rallied 15 per cent this year but, like Michael Caine’s ill-gotten gains in The Italian Job, it’s on the slide
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Overview

  • Gold prices are fluctuating between $3,040 and $3,167 per ounce, reflecting ongoing volatility in global markets.
  • Recent sell-offs in gold are attributed to investors liquidating positions to cover losses in other markets during a broader financial downturn.
  • Central banks remain key buyers of gold, with their demand providing structural support for prices despite short-term declines.
  • Geopolitical tensions, fueled by President Trump's tariffs and China's retaliatory measures, continue to drive gold's safe-haven appeal.
  • Experts forecast potential gold price increases to $3,500 per ounce within two years, contingent on the persistence of trade and geopolitical uncertainties.