Gold price rises to $3,000

Affected by the uncertainty of US tariff policy, the international gold price rose significantly on February 18. On the same day, the April gold futures price on the New York Mercantile Exchange rose 1.67% to $2,949.00/ounce, re-launching an offensive towards $3,000/ounce.

For the future of gold prices, international institutions generally raised their expectations. On February 18, Goldman Sachs raised its gold price forecast for the end of 2025 from $2,890/ounce to $3,100/ounce. Goldman Sachs estimates that the increase in global central bank demand for gold will cause gold prices to rise another 9% by the end of the year. If policy uncertainties, including tariff concerns, remain high, gold prices may soar to $3,300/ounce by the end of the year. UBS also analyzed in its latest research report that gold is expected to continue to rise in 2025, and gold prices may hit $3,200/ounce later this year. Previously, UBS expected gold prices to peak at $3,000/ounce by the end of this year.

Despite the continued rise in gold prices, consumers’ enthusiasm for buying gold has not diminished at all. On February 19, the reporter visited gold sales counters in many shopping malls in Beijing. In front of a Chow Tai Fook counter, customers were constantly selecting gold jewelry, and the sales staff were very busy. Ms. Wang, a citizen, was carefully selecting a gold necklace. She smiled and said, “Although the price of gold has risen, gold has always been very valuable. I plan to buy this necklace as a birthday gift for my mother.”