The price of gold reached a new all-time high on Thursday, approaching US$3,000 per ounce. At the close of trading, it stood at US$2,942 per ounce, according to Bloomberg.
The figures show that the commodity has accumulated a gain of approximately 11.98% so far in 2025. Meanwhile, in 2024, it accumulated an increase of 26%, its best result since 2010. Citigroup estimated that the price of the metal could continue to rise to US$3,000 in the next three months. Meanwhile, City Index noted that the latest price quote “still indicates upward strength, driven by safe-haven demand amid unresolved geopolitical uncertainties.”
For his part, Aurica co-founder and director Josh Pérez told DF that gold will continue to rise, as it has proven “very resilient and has tested the US$2,875 support level—a barrier it has not fallen below—on several occasions. This correction from historic highs is a sign of a healthy market that is poised to rise.” Factors behind the rise
Among the main drivers of gold is the possibility of a tariff war between the United States and Canada, Mexico, and China. This follows the announcement by US President Donald Trump to increase tariffs by 25% on steel and aluminum imports. According to Pérez, this conflict “would cause high inflation,” which could translate into “a serious economic slowdown.”
For Citi, “the bull market for gold looks set to continue under Trump 2.0,” noting that the risks are slower growth and high interest rates. On the other hand, conflicts in the Middle East and the war between Ukraine and Russia have increased demand for gold as a safe-haven asset. In fact, central banks have increased their reserves of the metal in recent years. “There is too much uncertainty for any government with the power to acquire gold not to try to increase its holdings year after year. Central banks continue to take a global view of risks, and all of Trump's policies will definitely be on their radar,” Pérez said.
According to the Aurica partner, gold is not devalued by inflation and cannot be issued in large quantities by any central bank, so “investing in precious metals (gold, silver, platinum, palladium) is a good way to protect your global portfolio.”
Sofía Pumpin, Diario Financiero