Gold eases from record highs – ING

FXStreetApr 24, 2025 8:55 AM

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Gold prices have pulled back from recent record highs above $3,500/oz, as a softer tone from Trump on China and the Fed eased market tension. Despite the dip, gold remains up over 25% year-to-date, bolstered by persistent volatility, shifting US policies, and strong demand from both ETFs and central banks, ING's commodity experts Ewa Manthey and Warren Patterson note.

Gold remains strong on volatility and safe-haven Demand

"In precious metals, gold fell from a record high above $3,500/oz reached earlier in the week on Trump’s softer stance on China and the Fed. Prices are still up by more than 25% so far this year, supported by market volatility and ever-changing US policies. The rally has also been supported by increased flows into gold ETF holdings and central bank buying."

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