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Apr 16, 2025
Gold tops $3,300 amid rising safe-haven demand
Gold demand climbs on dollar drop and recession fears
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Gold prices hit a new record high today, April 16, 2025, exceeding $3,309.71 per ounce, supported by increased demand for safe-haven assets amid escalating trade tensions between the United States and China, a weaker US dollar, and investor concerns about a global economic slowdown. In addition, US President Donald Trump's announcement of new tariffs on Chinese imports has heightened trade tensions, pushing investors toward gold as a safe haven. |
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Gold purchases by central banks, particularly in China, also contributed to support prices. Major financial institutions, such as ANZ, have raised their year-end gold price forecasts to $3,600 per ounce, citing continued strong demand for the precious metal.
In this context, gold is expected to continue to achieve further gains, especially with the ongoing uncertainty in global markets.