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Macquarie Analysts: Gold Could Surge 19% to $3,500 by Q3 as Safe-Haven Demand Grows

Macquarie Group analysts predict gold could reach a record high of $3,500 per ounce in the third quarter, averaging around $3,150 during that period. Currently trading at $2,940, gold has already risen 12% this year amid geopolitical uncertainties and concerns about President Trump’s tariff policies. The analysts attribute this bullish outlook to growing investor preference for gold’s lack of credit or counterparty risk, with additional support expected from a potentially widening U.S. deficit and resilient physical demand despite high prices. Both Goldman Sachs and Citigroup have also raised their gold targets to $3,100 and $3,000 respectively.

Original Source: BusinessToday.com

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