Overview

• Gold hit a record closing price of $3,431.63 per ounce on May 6, 2025, before retreating by 8–10% due to easing US-China trade tensions.
• Analysts maintain a bullish outlook, forecasting prices could climb to $3,700 per ounce by the end of 2025.
• Central banks continue to drive demand, with annual gold purchases doubling over the past decade to a record 1,086 tonnes in 2024.
• High prices have spurred a surge in private gold sales, including a 50% increase in Munich and purchase limits on gold bars at Costco in the US.
• Global uncertainty, including geopolitical risks and a weak US dollar, reinforces gold's appeal as a safe-haven investment.