The price of gold breaks a new standard level and makes its way about 3100 dollars an ounce

Gold price broke a new standard level today, Wednesday, after increasing more than 1% on Tuesday due to the increasing demand for safe haven amid uncertainty about the controversial commercial policies that US President Donald Trump is going, according to the FX Street platform.
Gold was traded at $ 2946.42 after the bounce of its lowest daily levels at $ 2892.

Gold shines and the demand is increasing

Financial markets are still in a state of tension after Trump imposed a customs duties last week on steel and aluminum imports, and his plan to apply equivalent fees for what other countries impose on the American, which kept the prices of gold alloys in a state of upward and the possibility of breaking high levels of approximately 3100 dollars an ounce soon .
Also read: Why is gold a good safe haven yet despite its high prices?

Gold prices expectations

The giant American “Goldman Sachs” bank raised the price of gold against the US dollar to 3100 dollars by the end of this year 2025 after the investment bank said that the “higher structural” demand from central banks will add 9% to the price of non -generating metal for the return.
After Trump’s victory on the sixth of November 2024, the price of gold fell to $ 2534 an ounce (an ounce) before it rose by 15.90% due to the purchases of central banks globally.
The World Gold Council revealed that the central banks bought gold with more than 54% for 333 tons after Trump’s victory.

Investing in gold in inflation

According to the opinion of the observers, the gold traders and persons should warn of the skepticism of federal reserve officials about the completion of the task related to inflation after the consumer price index has increased for five consecutive months.
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“The monetary policy must remain restricted in order to recognize progress on inflation,” said San Francisco Marie Dali.
According to the importance of market movements, analysts will monitor the issuance of the monetary policy decision of the Federal Open Market Committee for January, in addition to housing data, initial unemployment requests for the past week, and the International Procurement Manager Index for E and & B.

Gold is a candidate for a greater rise

The emerging trend of gold prices is still a decisive factor in light of buyers’ focus on exceeding the highest level of the metal at $ 2942 an ounce, making price resistance levels at the level of $ 2950 and 3000 dollars.
It is important to say that if these levels are exceeded, Goldman Sachs expects that the price of the metal will reach $ 3100 by the end of this year.