Gold breaks new all-time high above $3,300 per ounce
April 17, 2025 (Investorideas.com Newswire) Investorideas.com, rated as a top 100 investment website for investment issues market commentary from Quasar Elizundia, Expert Research Strategist at Pepperstone.
"Gold prices reached a new all-time high today, solidifying their status as the preferred safe-haven asset in an increasingly complex global environment. Midweek trading saw the precious metal surge over 2.5%, firmly breaching the $3,300 per ounce psychological and technical barrier, with an intraday high of $3,317.90.
This remarkable rally occurs against a backdrop of persistent macroeconomic and geopolitical uncertainty. Gold's ascent is not an isolated event, but rather a continuation of a strong trend driven by a combination of key factors: ongoing trade tensions, the structural weakness of the U.S. dollar, and increasing strategic diversification by central banks.
The dollar's weakness, now trading near its lowest levels in three years, plays a pivotal role. A weaker dollar makes gold cheaper for investors using other currencies and reduces the relative appeal of dollar-denominated assets. This dynamic is eroding the perception of the dollar as a primary safe haven, directly benefiting gold.
Year-to-date, gold is up over 26%, rapidly approaching the robust 28% return registered in 2024, highlighting the underlying strength of demand. The main drivers of this continued momentum include:
- Geopolitical and Trade Uncertainty: Ongoing global conflicts and renewed U.S.-China trade tensions (including recent tariffs and tech restrictions) are pushing investors toward gold.
- Dollar Weakness and Fed Expectations: The USD's depreciation and market expectations of potential interest rate cuts by the Federal Reserve (with investors closely watching Jerome Powell's upcoming speech) reduce the opportunity cost of holding gold.
- Central Bank Demand: Emerging economies like China have tripled their gold reserves (now near 8%) in a strategic shift away from dollar-linked assets, especially after events like the freezing of Russian reserves. This gold buying is not just a hedge—it's a strategic statement about the future of the global monetary order.
From a technical analysis perspective, gold has breached key levels. After breaking through $3,300, the next short-term resistance lies at $3,351, but if current conditions persist, the medium-to-long-term target is projected around $3,734 per ounce.
The outlook for gold remains constructive, supported by a robust mix of macroeconomic and geopolitical factors that reinforce its intrinsic value as a store of value and diversification asset in uncertain times."
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