After hitting an all-time high of $3,237 on Friday, gold prices could touch between $3,400 and $3,500 in the months ahead as investors flock to bullion as a safe-haven asset from market volatility, analysts say.
Spot gold has continued its blazing rally from the last year, hitting record highs and gaining nearly 21 per cent so far this year driven by a weaker dollar, recession concerns over the intensifying trade war between US and China, central bank demand and increased flows into gold-backed exchange-traded funds.
Beijing increased its tariffs on US imports to 125 per cent on Friday, hitting back against US President Donald Trump's decision to increase duties on Chinese goods to 145 per cent.
“It is expected that the gold rally will continue to run, with prices anticipated to reach $3,400 to $3,500 per ounce over the next few months,” said Vijay Valecha, chief investment officer at Century Financial.
“Further, as recession risks mount, the US dollar continues to weaken against an uncertain economic backdrop while the euro strengthens – reinforcing gold’s role as a crisis hedge.”
Gold ETF buying also continued its pace in March, with all regions contributing. US funds led the charge with $6 billion (67 tonnes) of net inflows, followed by Europe and then Asia with approximately $1 billion each, he added.
The combination of tariff-induced inflation risks and geopolitical uncertainty provides a robust foundation for gold prices.
The drivers that propelled gold higher – including persistent uncertainty focused on US-China trade tariffs, the potential inflationary pressures from tariffs, and questions around future central bank policy – remain firmly in place, supporting a constructive outlook for the precious metal.
“With China and the US getting further away from making a trade deal, this is the number one source of uncertainty right now for all sorts of risk assets,” said Fawad Razaqzada, market analyst at City Index and Forex.com.
“While Trump’s reversal of reciprocal tariffs on other nations is a step in the right direction, investors want to see a sign of progress with China. Until that happens, gold investors will be keen to keep doing the same: buying the dips.
“But at these prices, gold is looking quite expensive and could take a sharp drop once sentiment towards risk improves.”
As recession risks mount, the US dollar continues to weaken against an uncertain economic backdrop while the euro strengthens – reinforcing gold’s role as a crisis hedge
Vijay Valecha,
chief investment officer, Century Financial
Saxo Bank forecasts that gold will reach a minimum of $3,300 this year.
A combination of heightened global economic tensions, the risk of stagflation (a combination of lower employment, growth and rising inflation) and a weaker dollar will continue to support bullion, according to Ole Hansen, head of commodity strategy at Saxo Bank.
“Adding to this is a market that is now aggressively positioning for the US Federal Reserve to deliver more cuts this year – at current count more than 75-basis points of easing by year-end – and not least continued demand from central banks and high-net-worth individuals looking to reduce or hedge their exposure to US government bonds and the dollar,” he said.
Mr Valecha said it is also worth noting that real yields are higher and above their long-run average, suggesting more downside risk for yields, benefiting gold prices.
Forward equity price-to-earnings ratio also remains high, and that provides capacity for further downside to equities should an economic slowdown and earnings downgrades worsen, acting as a boon for gold's safe-haven appeal, he reckoned.
Moreover, the willingness to hold gold, given the current extreme policy uncertainty, could generate real momentum, he said.
“By historical standards, the current rally isn't particularly large or long. This is because from 1971 to 2020, whenever gold rallied in a way similar to the current rally, it gave an average return of 242 per cent,” Mr Valecha explained.
“Looking at the current rally that started in 2022, gold is up around 100 per cent, signalling that it still has a long way to go, especially since fundamentals look strong.”
MATCH INFO
Liverpool 4 (Salah (pen 4, 33', & pen 88', Van Dijk (20')
Leeds United 3 (Harrison 12', Bamford 30', Klich 66')
Man of the match Mohamed Salah (Liverpool)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
Frida%20
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SPECS
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UAE currency: the story behind the money in your pockets
THE%20JERSEYS
%3Cp%3E%3Cstrong%3ERed%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EGeneral%20Classification%2C%20sponsored%20by%20Fatima%20bint%20Mubarak%20Ladies%20Academy%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20leader%20of%20the%20General%20Classification.%0D%3Cbr%3E%3Cstrong%3EGreen%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EPoints%20Classification%2C%20sponsored%20by%20Bike%20Abu%20Dhabi%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20fastest%20sprinter.%0D%3Cbr%3E%3Cstrong%3EWhite%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EYoung%20Rider%20Classification%2C%20sponsored%20by%20Abu%20Dhabi%20360%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20best%20young%20rider%20(U25).%0D%3Cbr%3E%3Cstrong%3EBlack%20Jersey%3C%2Fstrong%3E%0D%3Cbr%3EIntermediate%20Sprint%20Classification%2C%20sponsored%20by%20Experience%20Abu%20Dhabi%3A%20Worn%20daily%2C%20starting%20from%20Stage%202%2C%20by%20the%20rider%20who%20has%20gained%20most%20Intermediate%20sprint%20points.%3C%2Fp%3E%0A
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
England squad
Moeen Ali, James Anderson, Jofra Archer, Jonny Bairstow, Dominic Bess, James Bracey, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Ben Foakes, Lewis Gregory, Keaton Jennings, Dan Lawrence, Jack Leach, Saqib Mahmood, Craig Overton, Jamie Overton, Matthew Parkinson, Ollie Pope, Ollie Robinson, Joe Root, Dom Sibley, Ben Stokes, Olly Stone, Amar Virdi, Chris Woakes, Mark Wood
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Racecard
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Ferrari 12Cilindri specs
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