Gold has surpassed $3,000 per ounce for the first time, peaking at $3,004 before settling slightly lower at $2,997. The precious metal is up 14.8% since the beginning of 2025, following a 26.6% surge in 2024, despite traditional headwinds like rising US bond yields and a strengthening dollar.
Experts see this as a “structural shift” in gold’s role as a safe-haven asset amid global uncertainty, with Diego Franzin of Plenisfer noting that gold has become increasingly relevant in investor portfolios. European investors have reversed their previous stance, adding $3.2 billion to gold ETCs in early 2025 after withdrawing $5.8 billion last year.
While Bank of America analysts suggest gold could reach $3,500 this year with increased investment demand, some risks remain, including potential US Treasury supply changes and a possible Chinese stock market recovery.