Gold Breaks $3000 Barrier: An Attractive Investment Opportunity

Gold prices reached a historic milestone, surpassing the $3,000-per-ounce barrier for the first time last Friday. The surge is driven by escalating global trade tensions and anticipated cuts in U.S. interest rates, enhancing gold's appeal as a safe-haven asset.

Spot gold rose by 0.3%, reaching $2,997.75 per ounce after hitting a record high of $3,004.86. U.S. gold futures climbed 0.6% to reach $3,009.10.

Gold has risen over 14% this year, propelled by fears over the adverse impact of tariffs imposed by former U.S. President Donald Trump and recent downturns in global equity markets.

Additionally, strong central bank purchases, robust investor demand for safe-haven assets, and expectations of continued accommodative monetary policy from the U.S. Federal Reserve further boosted gold prices.

Analysts forecast gold's bullish momentum will continue. Saxo Bank maintains a price target of $3,300 for this year, while ANZ anticipates gold reaching $3,050 by 2025.

Meanwhile, silver prices rose to $33.87 per ounce, platinum fell to $987.30, and palladium increased to $963.78.