The current development of gold prices is largely influenced by political uncertainties and central bank purchases. Geopolitical tensions, brought about by ongoing conflicts and economic uncertainties, are driving more and more investors into the safe haven of gold, significantly increasing the demand for the precious metal. This leads to heightened demand and a rise in gold prices.
The Influence of Central Banks
In recent months, central banks have significantly increased their gold reserves, further pushing up the gold price. Monetary policy decisions, especially interest rate adjustments by the US Federal Reserve (Fed), play a crucial role in price development. While interest rate cuts tend to positively influence the gold price, rising rates could burden it. However, a certain restraint regarding interest rate increases is expected at present.
The Weak US Dollar and Future Forecasts
Another important factor is the weak US dollar, which enhances the attractiveness of gold as an investment form. Historically, a weak currency often leads to a stronger gold price. Expert forecasts for the year 2025 predict a significant increase in gold prices. According to the LBMA Forecast Survey, an average price of around 2,737 US dollars per ounce is expected, while the analysis portal Wallet Investor even predicts prices of about 3,080 US dollars.
In summary, it can be said that political uncertainties, central bank purchases, monetary policy, and a weak US dollar are the main factors behind the current price development. These factors cause the gold market to remain under upward pressure.