Gold Prices Soar to New Highs! Macquarie: Could Reach $3,500 in the Future!
TradingKey - Spot gold prices surged to a new all-time high, with Macquarie forecasting a further 17% increase to $3,500.
On Friday, spot gold prices soared to a new high, reaching a peak of $2,990 per ounce and temporarily trading at $2,986.
Spot Gold Price Chart, Source: TradingView.
Amid geopolitical uncertainties and concerns over U.S.President Trump's tariff policies, safe-haven demand has surged, driving gold prices up by over 13% this year. Yesterday, Trump threatened to impose 200% retaliatory tariffs on European wine and champagne, further escalating trade tensions and once again boosting gold prices.
Macquarie stated, "The deteriorating U.S. fiscal outlook signals rising inflation, strengthening gold's role as a hedge. The average gold price in the third quarter of this year could reach $3,150 per ounce, with a potential peak of $3,500 per ounce."
In fact, Wall Street remains broadly bullish on gold. Goldman Sachs predicts that gold prices will rise to $3,100 per ounce, while Citigroup expects prices to reach $3,000 per ounce this year.
Related Articles
Bank of England August Rate Decision Preview: Pound Likely to Enter a Fluctuation Phase
TradingKey - On 7 August 2025, the Bank of England (BoE) will announce its policy interest rate decision. The prevailing market view suggests a high likelihood of a 25-basis-point rate cut, lowering the benchmark rate from the current 4.25% to 4%.
U.S. July Nonfarm Payroll Commentary: Short-Term Economic Headwinds May Turn into Mid-Term Bullish Signal for US Stocks
In essence, short-term economic challenges could pave the way for medium-term investment opportunities.
SMCI Q4 FY2025 Earnings Preview: Balancing AI Momentum with Margin and Governance Risks
TradingKey - Super Micro Computer, Inc. (NASDAQ: SMCI) is scheduled to report its Q4 FY2025 earnings on Tuesday. The outlook for SMCI’s Q4 FY2025 centers on AI-driven demand, margin stabilization, and the company’s progress in scaling manufacturing operations.
AMD Q2 FY2025 Earnings Preview: AI and Data Center Growth Prospects in Focus
TradingKey - Advanced Micro Devices, Inc. (NASDAQ: AMD) is scheduled to report its Q2 FY2025 earnings on Tuesday, August 5, 2025, after the U.S. market closes. The earnings call will begin at 5:00 p.m. Eastern Time.
