- Gold futures surpassed $2,990 per ounce amid economic uncertainty.
- Analysts at Macquarie predict a peak of $3,500 per ounce in Q3 2025.
- Central bank buying and tariff concerns continue to fuel gold’s rally.
Gold’s rapid ascent has caught the attention of Wall Street, leading analysts to revise their forecasts upward. Macquarie Group now projects a peak of $3,500 per ounce, citing geopolitical uncertainty, inflation concerns, and a shifting Federal Reserve stance on interest rates.
Trade tensions and inflation expectations have significantly influenced gold prices. The Trump administration’s tariff policies, coupled with concerns over global economic realignment, have driven investors toward safe-haven assets.
Gold’s Bull Run: Is $3,500 the Next Stop
Gold has seen an extraordinary rally in 2025, with futures breaking record highs as investors turn to safe-haven assets. A combination of macroeconomic shifts, Federal Reserve policy expectations, and geopolitical instability has fueled the metal’s gains. With Wall Street analysts now predicting $3,500 per ounce, the question remains: how much higher can gold climb?
Macquarie Group’s latest forecast suggests that inflationary pressures and shifting trade policies will continue to push gold higher. The firm’s revised price target aligns with projections from BNP Paribas and Goldman Sachs, both of which have also raised their expectations in response to evolving market conditions.
Beyond institutional investment, central bank purchases have played a crucial role in gold’s upward trajectory. Nations looking to diversify their reserves away from the US dollar have ramped up acquisitions, adding further momentum to the rally. This trend highlights the growing perception of gold as a hedge against both currency devaluation and economic volatility.
While gold’s climb seems unstoppable, risks remain. Potential Federal Reserve rate cuts and easing trade tensions could temper investor enthusiasm. However, if global economic uncertainty persists, the precious metal may see further gains before any major correction.
With gold on an upward trajectory and analysts setting higher price targets, the metal’s role as a safe-haven asset continues to strengthen. Whether this rally sustains or faces headwinds will depend on economic and geopolitical developments in the months ahead.
“Gold is money. Everything else is credit.” – J.P. Morgan
