The yellow metal is unstoppable, racing towards dazzling new records! Gold, smashing through all-time highs, now has its sights set on $3,000 per troy ounce and that may not be the limit!
According to analysts at Freedom Finance Global, gold could surpass $3,000 per ounce in the first half of 2025. The company notes that in times of global uncertainty, investors shy away from risky assets. Market participants still favor the US dollar or gold.
Freedom Finance Global highlights the recent weakening of the greenback, driven by higher US import tariffs on goods from Mexico and Canada, new duties on Chinese products, and levies on all steel and aluminum imports into the United States.
Experts believe that gold’s short-term price moves depend on the Federal Reserve’s interest rate decisions. However, the long-term trend for gold remains upward.
Notably, ahead of the US presidential election in late 2024, gold prices climbed for several months straight. The precious metal broke above $2,700 per ounce for the first time in late September, fueled by political uncertainty in the US. Although Donald Trump’s election victory briefly paused the rally, prices surged again after his inauguration in January 2025.
As a result, on February 11, gold hit a record high of $2,968 per ounce before settling at $2,931. Recently, the yellow metal jumped another 2%.
