Gold Prices Near $3,000 as Analysts Predict Further Gains

Central bank demand, geopolitical tensions, and tariff fears drive gold to record highs with forecasts suggesting potential for even higher prices in 2025.

Gold prices have surged to record highs, nearing $3,000 per ounce, driven by strong demand from central banks and investors seeking safe havens.
Goldman Sachs raised its 2025 year-end forecast to $3,100 per ounce, with a potential peak of $3,300 if tariff-related uncertainties persist.
President Trump's trade policies, including tariff threats, have fueled economic uncertainty, further boosting gold's appeal as a hedge against volatility.
Major banks like JPMorgan and HSBC are transporting significant quantities of gold from London to New York to capitalize on price disparities between the two markets.
While some analysts predict continued growth, others, like Morgan Stanley, foresee a potential price decline to $2,700 or lower due to demand destruction and increased recycling.