(DailyEmailNews.com) – Cementing its place as the go-to asset in times of economic trouble and global instability, the price of gold has skyrocketed past a never-before-seen $3,000 per ounce.
Experts point to political and economic factors driving this surge, as central banks hoard the metal, making gold the ultimate safe-haven asset.
Gold witnessed a historic leap when prices peaked at $3,000.85 per ounce, marking a new chapter in the precious metals market.
Handren Warti, head of the Erbil Goldsmiths Syndicate, even predicts that a rise to $3,300 per ounce is on the way.
This spike is attributed to a day of dramatic gains, with prices climbing from $2,935 to over $3,000.
“For the first time in history, the price of one ounce of gold has reached $3,000 and 85 cents,” Warti specified.
Gold’s appeal as a safe-haven asset has been secured amid economic uncertainties.
The surge is not unwarranted, as Warti confirms, “There are many factors behind this rise, particularly political and economic reasons.”
These factors include geopolitical tensions and market volatility. Ongoing inflation concerns, worsened by shaky political climates, have increased gold’s demand globally.
BREAKING: Spot gold prices officially surge to a new record high, now just 1% away from crossing $3,000/oz for the first time in history. pic.twitter.com/njvrF5cYAR
— The Kobeissi Letter (@KobeissiLetter) March 13, 2025
Despite such high prices, the demand for gold remains firm. With world markets in chaos, investors view gold as insurance against inflation and financial instability.
The relentless climb of gold prices is also linked to fears surrounding President Donald Trump’s trade policies, which have impacted global economic expectations.
This has driven central banks, particularly China, to amass more gold reserves. At the same time, a weakened dollar and potential interest rate cuts further fuel the rise.
Analysts like those at Macquarie anticipate these prices will continue their upward trajectory, forecasting $3,500 per ounce by 2025.
Market analysts are adjusting projections in response to dynamic shifts in economic policies and central bank maneuvers.
With global economic growth appearing dim, gold’s status as a refuge asset strengthens daily.
The continued movement of gold reserves to markets like New York due to fears of potential U.S. duties underlines this concern.
The landscape remains unpredictable, with possibilities of either a steady rise or a temporary peak.
For now, gold’s shine seems far from dimming, serving as a beacon of monetary stability amid a world of fiscal chaos.
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