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Gold Price News: Gold Hits All-Time High Amid Economic Worry
Gold prices hit another all-time high on Friday, topping the $3,000 an ounce level for the first time, as the precious metal continued to attract safe haven interest amid economic uncertainty. Prices rallied as high as $3,005 an ounce on Friday before easing back slightly to below $2,985 an ounce later in the day.
Trade war maintains interest in gold:
Gold prices took support from the latest twist in the emerging global trade war, as US President Donald Trump threatened to hit imports of European alcohol with 200% tariffs – a response to EU plans for a 50% tariff on imports of US-made whiskey.
Gold prices were already up around 14% so far this year. The deepening trade war has created uncertainty over the outlook for the global economy, driving interest in gold as a hedge against the risk of devaluation in other assets like stocks.
Serving to highlight those concerns, the Michigan consumer sentiment figures released Friday, which relate to the whole US economy, plunged to 57.9 in March, the lowest since November 2022 and well below forecasts of 63.1. Within the survey, expectations for the future soured across multiple areas of the economy, while inflation expectations surged.
Markets eye US rate cuts:
For the moment though, US inflation readings came in below expectations last week, and this feeds into expectations that the US Fed will have greater leeway to cut interest rates further this year. Lower interest rates tend to support gold prices as they reduce the opportunity cost of holding non-interest-bearing assets. Read More
Silver Price News: Silver Rises as Gold Leads the Way
Silver prices rose to a four-month high on Friday, following in the wake of gold, which hit a fresh all-time high above $3,000 an ounce amid deepening worries over the economic outlook. Silver prices rose as high as $34.25 an ounce on Friday, up from around $33.92 in late trades on Thursday. That was the highest price for silver since late October 2024.
The latest gains came as the trade war showed little sign of abating, with fresh threats of tariffs on goods traded between the US and EU. The general air of policy uncertainty has prompted traders to hedge risks by switching into relative sanctuaries like precious metals, lifting gold and silver prices.
Weaker US inflation triggers rate cut hopes:
In addition, weaker than expected US inflation figures released last week strengthened expectations that the US Fed will cut interest rates further this year, providing a lift for non-yielding precious metals.
Technical analysis:
On the technical charts, silver prices were testing rising oblique major resistance at $33.80 an ounce on Friday, with intra-day movements pushing prices above that threshold. This is a level to watch, as a solid and sustained move above this level would place silver in a strong technical position for further gains. On the downside, oblique major support lies at $33.05 an ounce, which could come into play if prices retreat from current levels. Read More
Junior miners struggle despite gold’s record highs, but what’s next?
Gold prices are hitting record highs, even breaching the $3,000 an ounce level for the very first time, but junior mining stocks are still struggling to gain traction, according to Luc ten Have, founder of GoldDiscovery.com.
Speaking at the 2025 Prospectors & Developers Association of Canada (PDAC) conference in Toronto, ten Have noted that while larger gold producers have seen substantial gains, smaller exploration companies continue to face challenges.
“This is a topic that everybody talks about, and no one has a real answer,” ten Have said in an interview with Kitco Mining.
Despite the bullish outlook for gold, the disparity between major producers and junior miners has widened. Big gold companies have seen their stock prices surge by over 100% year over year. However, smaller exploration firms, particularly those listed on Canada’s TSX Venture Exchange, have failed to attract similar investor enthusiasm.
“TSXV has been really weak, but GDX has had a strong period,” ten Have said. “The mid-tier miners did well … but very small juniors are probably not in the bull market. That will probably correct itself at some point if gold stays strong.” Watch the podcast
Gold price holding within striking distance of $3000 after Empire State Survey drops to -20
The gold market continues to consolidate just below $3,000, but some analysts expect the precious metal to attract safe-haven demand after data from the New York Federal Reserve showed a significant contraction in the region’s manufacturing sector.
The regional central bank reported that its Empire State Manufacturing Survey dropped to -20.0, down sharply from February’s reading of 5.7. The data was significantly weaker than expected, as economists had forecast a reading of -1.9.
The New York manufacturing sector is experiencing its worst decline in a year.
So far, the gold market has shown little reaction to the disappointing data. Spot gold last traded at $2,990.40 an ounce, up 0.20% on the day.
The report noted a growing stagflation threat as input prices rose at the fastest pace in two years. The Prices Paid Index increased to 44.9, up from February’s reading of 40.0; this marks the third consecutive month of rising input prices.
The report's components showed broad-based weakness. The New Orders Index dropped to -14.9, down from the previous reading of 11.4, while the Shipments Index fell to -8.5.
The report also highlighted weaknesses in the labor market. The Number of Employees Index dropped to -4.1, down from -3.6 in February. Read More
China sees record gold ETF inflows in February, jewelry demand should stabilize as the economy improves – World Gold Council
China’s gold market saw strong price growth and record ETF inflows in February, while the improving outlook for the domestic economy points to a recovery for jewelry demand going forward, according to Ray Jia, Research Head for China at the World Gold Council (WGC).
Jia noted that gold prices continued to rise internationally in February, but were even stronger in China. “The relative outperformance of the gold price in RMB, compared to its USD peer, was mainly driven by a 0.5% depreciation in the local currency during the period,” he said.
“Although gold prices adjusted lower in the latter half of February, they continued to refresh records during the period, both in USD (on 11 occasions) and RMB (on six occasions),” he noted. “Our analysis shows that market momentum, generally lowering yields and a weaker dollar drove gold higher.”
Wholesale demand saw a seasonal decline, with gold withdrawals from the SGE declining 28% month-over-month in February to 90 tonnes.
“This weakness is mainly seasonal – wholesalers and manufacturers typically buy less gold after the CNY holiday due to active replenishment prior,” Jia wrote. “In fact, every February on record – except 2023 when pent-up demand from COVID restrictions pushed up demand – has seen a m/m decline, averaging 41% over the past ten years. Lower demand during the month led to a fall in the Shanghai–London gold price spread.” Read More
Agnico Eagle Chairman Sean Boyd on gold’s historic run: '$5,000 won’t surprise us'
A major surge in gold prices has created unprecedented economic conditions for Canada’s Agnico Eagle Mines, driving substantial financial gains and highlighting strategic opportunities in North America's critical mineral landscape.
Sean Boyd, Chairman of Agnico Eagle, described the current market situation vividly, saying, “This is a really unique time because it's a time when gold is strong, while the stock market is setting record levels, while the U.S. dollar is strong—that's not supposed to happen.” Boyd also emphasized the rare financial benefits Agnico Eagle is currently enjoying: “This is the first time in decades where we've been able to pile up substantial amounts of cash. It's a good thing, there's no shortage of opportunities within the portfolio to spend it on.”
Discussing Agnico Eagle's exceptional financial performance, Boyd detailed the company’s robust economic state: “We're north of $2 billion in cash flow. Our all-in sustaining costs are around $1,200. Our margins are over 50%.” He explained the company's careful growth strategy clearly: “We didn't set out to build one this big. We're not setting out here to say we need to diversify away from gold, but if we see the right geology, right deposit, high quality in jurisdictions we understand, we have to be interested in it.” Watch the podcast
Beyond $3,000 gold: Surging ETF demand and speculator frenzy will fuel the next leg
The gold market could have further room to run above $3,000 an ounce as one key segment of the marketplace is seeing a shift in momentum, while another is just waking up.
Speculative investors have been aggressively liquidating their long gold positions for the last six weeks, with the precious metal’s net length falling to a three-month low; however, that selling pressure came to an end last week as the latest trade data from the Commodity Futures Trading Commission showed hedge funds have now started covering their short bets.
The CFTC's disaggregated Commitments of Traders report for the week ending March 11 showed that money managers decreased their speculative gross long positions in Comex gold futures by 58 contracts to 204,907. At the same time, short positions fell by 976 contracts to 37,331.
Gold’s net positioning was relatively unchanged from the previous week and currently stands at 167,576 contracts. Since its highs in late January, gold’s bullish positioning has declined by 22%.
Commodity analysts at TD Securities said that the gold market could see some FOMO (fear of missing out), as speculative investors jump back into the market with prices hovering around $3,000 an ounce, which is seen as an important psychological area. Read More
Gold’s safe-haven bid strengthens amid recession fears, global silver coin sales collapse – Heraeus
The stock market selloff and mounting fears of a recession are driving demand for gold, while sales of silver coins are in freefall as high costs and markups discourage buyers, according to precious metals analysts at Heraeus.
In their latest precious metals update, the analysts noted that the market’s current risk-off posture is boosting gold’s safe-haven appeal.
“Concerns over a potential US recession are back in focus, with equity markets showing signs of strain,” they wrote. “The S&P 500 is now 2% lower than at 5 November 2024, when Donald Trump was elected, as persistent uncertainty over trade relations weighs on investor sentiment. On 7 March, hedge funds unwound single-stock positions at levels comparable to March 2020, reflecting a notable shift toward risk reduction.”
“Adding to the recession narrative, the 10-2 year US Treasury yield spread curve un-inverted in late 2024, having remained inverted since October 2022,” they said. “Historically, such un-inverting has preceded economic downturns by 6-12 months, putting Q1’25 at the beginning of this window. This shift in economic expectations, combined with rising geopolitical and trade uncertainties, has reinforced gold’s position as the preferred safe-haven asset.”
Heraeus said this shift is already showing up in futures market positioning. “Money managers remain more net long on gold now than for 65% of the time since January 2020,” the analysts noted. “Since the start of 2025, gold open interest has increased by 10%. In contrast, silver open interest dropped by 13% in just the last week of February as postponed US tariffs on Canada and Mexico were confirmed, alongside additional global tariff threats.” Read More
Gold prices pausing just below record peaks
Gold prices are slightly higher in midday U.S. trading and not far below last week’s record highs. Silver futures are slightly down. Continued safe-haven demand amid elevated concerns over a global trade war, bullish charts and notions of an easier Federal Reserve monetary policy are keeping a price floor under the precious metals markets. April gold was last up $3.50 at $3,004.80. May silver prices were last down $0.208 at $34.23.
The U.S. data point of the week will be the Federal Reserve Open Market Committee (FOMC) meeting that begins Tuesday morning and ends Wednesday afternoon with a statement and press conference from Fed Chair Powell. The marketplace expects no interest rate changes at this meeting, but it will closely parse wording coming from the FOMC statement and Powell’s presser.
Technically, April gold futures bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,100.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,900.00. First resistance is seen at the contract high of $3,017.10 and then at $3,025.00. First support is seen at Friday’s low of $2,988.60 and then at $2,974.00. Wyckoff's Market Rating: 9.0.
Image Source: Kitco News
May silver futures bulls have the firm overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the October 2024 high of $35.80. The next downside price objective for the bears is closing prices below solid support at this week’s low of $32.215. First resistance is seen at last week’s high of $34.86 and then at $35.00. Next support is seen at $34.00 and then at $33.50. Wyckoff's Market Rating: 7.0. Read More
Image Source: Kitco News
Gold may consolidate after surge to $3,000, but prices will likely rise higher – Saxo Bank
The gold market reached a significant milestone last week as prices surged above $3,000 an ounce, setting a new record high. And while gold remains in a strong uptrend, one market strategist said investors should prepare for some consolidation.
In his latest research note published Friday, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said he would not be surprised if gold prices tested initial support at $2,956 - or even $2,930 - as investors take some profits at what is seen as a key psychological level.
However, he added that he views any dip in the market as a buying opportunity and reiterated his 2025 price target of $3,300 an ounce. April gold futures last traded at $3,006.50 an ounce, relatively flat on the day.
Hansen noted that robust central bank demand, falling global interest rates, and geopolitical uncertainty have been the key factors driving gold’s unprecedented rally since February 2024. He pointed out that gold prices have risen 39% in the last 12 months and 14% since the start of 2025.
Hansen explained that gold’s rally has been turbocharged since the start of the new year. President Donald Trump has upended the world order, adding to global economic uncertainty and geopolitical turmoil. Hansen added that a perfect storm is brewing in the gold market.
“The resulting stock market correction, led by recently high-flying companies now facing a potential end to U.S. exceptionalism, has prompted overseas and U.S. investors to seek alternatives,” he said. “These factors have heightened stagflation risks—slowing growth, rising unemployment, and increasing inflation—potentially forcing the Federal Reserve to ease financial conditions. Markets now anticipate three 25-basis-point cuts by year-end, up from just one in January.” Read More
Gold futures sustain above $3,000 as spot gold reaches historic milestone
In a significant development for precious metals markets, both gold futures and spot gold have surpassed the landmark $3,000 per troy ounce threshold. As of 5:20 PM ET, the most active April gold futures contract settled at $3,010.10, reflecting a daily gain of $13.90 or 0.46%. Simultaneously, physical gold reached $3,001.13, advancing by $16.22 or 0.54%.
Image Source: Kitco News
The precious metal's impressive performance can be attributed to several macroeconomic factors converging to boost investor sentiment. Dollar weakness has played a substantial role, with the dollar index declining 0.32% to 103.03. This weakness stems from mounting concerns over potential tariffs and trade tensions that could hamper global economic growth.
Recent economic indicators have reinforced these concerns. February's retail sales figures came in below expectations, while the March Empire manufacturing survey of general business conditions plummeted to a 14-month low, suggesting economic momentum may be waning.
Persistent inflation in multiple sectors has further enhanced gold's appeal as a traditional hedge against rising prices. Additionally, investors are increasingly focused on the United States' expanding fiscal debt, which continues to drive interest in gold's reputation as a safe-haven asset during periods of economic uncertainty. Read More
Live From The Vault - Episode: 214. COMEX Silver Deliveries Explode! Feat Craig Hemke
In this week’s Live from the Vault, Andrew Maguire welcomes back Craig Hemke to examine a surge in silver deliveries from COMEX as widening futures spreads, large metal transfers, and rising physical demand signal a fundamental shift in the market.
Hemke explores growing pressure on short positions and historical parallels with the 2011 silver squeeze, while discussing whether recent gold and silver volatility is linked to Trump’s election and broader financial instability globally.
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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