Gold Hits $3,168.00 Per Ounce, Up 35.09% Yearly

Gold prices reached an unprecedented high of $3,168.00 per troy ounce on Thursday, marking a significant achievement in its recent trajectory. This new peak comes after a steady ascent over the past month, with gold gaining 8.63% in the last four weeks and an impressive 35.09% increase over the past year. The surge in gold prices has been fueled by various factors, including geopolitical uncertainties and the demand for safe-haven assets, which have collectively driven gold prices to new heights.

The bullish momentum in gold prices has been evident, with prices rising from sub-$3,000 levels to $3,120 earlier in the week. Analysts have observed that the technical setup for gold remains bullish, suggesting that the price could retest the all-time high around $3,167-3,168. This optimism is further bolstered by the ongoing safe-haven demand and robust central bank buying, which are expected to continue propelling gold prices higher.

Gold's rise has been particularly striking against the backdrop of broader market turmoil. The commodity has gained more than $400 in 2025, underscoring its status as a safe investment during times of political and financial uncertainty. This trend is likely to persist as geopolitical risks intensify, further enhancing gold's appeal as a hedge against market volatility.

Looking ahead, some experts predict that gold could reach $3,500 per ounce, driven by the same factors that have fueled its recent gains. The ongoing safe-haven demand, intensifying geopolitical risks, and robust central bank buying are all expected to contribute to gold's continued ascent. However, it is important to note that these predictions are based on current market conditions and may be subject to change.

In summary, gold's recent performance has been remarkable, with prices hitting new all-time highs and showing no signs of slowing down. The commodity's appeal as a safe-haven investment, coupled with ongoing geopolitical uncertainties, is likely to continue driving prices higher in the coming months.