Gold Remains Well Supported as Central Banks Continue To Buy

Gold prices soared to a record high of 28% in 2024 after previously rising around the same value in 2010. It continued the spike in 2025 and entered the year on the front foot surging 18%. However, it faced corrections this month and dipped below the $2,900 mark. Now that Trump’s trade tariffs went live on Tuesday, the US stock market and the dollar went south in the charts. The dip is alarming as the development suggests that investors remain skeptical about trade tariffs and their fallout.

Marissa Salim, Senior Research Lead at the World Gold Council wrote in a recent note that gold prices could surge much higher. She wrote that central banks of developing countries are massively accumulating the precious metal in their reserves. This would lead to higher gold prices as the demand for the glittery metal is higher than usual.

wrote Marissa.

Marissa explained that central banks purchased more when gold prices dipped entering the accumulation phase.read the note.

When Will Gold Prices Cross $3,000?

Goldman Sachs predicts that gold prices will not only breach the $3,000 mark, it could surge to $3,300 in 2025. The investment bank’s research analyst Lina Thomas wrote in the latest report that the XAU/USD index could be unstoppable.

the investment bank wrote.