Gold price predictions: Gold rate goes up to historic height. Experts raise rates for 2025

Gold prices on Wednesday surpassed the $3,300-mark even as experts are predicting that rates may further increase this year. Spot gold was up 2.2 per cent to $3,299.85 an ounce as of 1107 (GMT), after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures gained 2.3 per cent to $3,315.80.

Trump's probe, announced on Tuesday, is viewed as an attempt to push back on leading critical minerals producer China, and comes on top of reviews into pharmaceutical and chip imports.

Gold has risen nearly 26 per cent this year, buoyed by tariff disputes, strong central bank buying, expectations of interest rate cuts, and flows into bullion-backed exchange-traded funds.


ANZ on Wednesday raised its year-end gold price forecast to $3,600 per ounce and its six-month forecast to $3,500.

According to a recent BofA survey, 73 per cent of respondents believe that the theme of "U.S. exceptionalism" has peaked, impacting markets, and 49 per cent now view "long gold" as the most crowded trade, overtaking bets on U.S. tech giants for the first time in 24 months.

Gold's relative strength index (RSI) stands above 70, indicating that the metal is overbought. Spot silver rose 2 per cent to $32.94 an ounce, platinum was up 0.1 per cent to $960.85, and palladium gained 0.6 per cent to $977.09.

FAQs

Q1. What are silver, platinum, palladium prices?
A1. Spot silver rose two per cent to $32.94 an ounce, platinum was up 0.1 per cent to $960.85, and palladium gained 0.6 per cent to $977.09.

Q2. What are gold price predictions?
A2. ANZ on Wednesday raised its year-end gold price forecast to $3,600 per ounce and its six-month forecast to $3,500.