The gold price remains close to its multi-week high and shows strength as it is increasingly in demand by buyers. This is further encouraged by the US dollar retreating from its recently reached multi-week highs. The ongoing uncertainties in trade also contribute to gold being sought after as a safe haven.
Gold Price Development in June 2025
In June 2025, the gold price moved within a narrow range and reached a monthly and multi-week high of around €2,973/oz in mid-June, triggered by weaker US inflation data and hopes for loose monetary policy in the US. Afterward, there were profit-taking due to robust economic data and a stronger dollar, which slightly corrected the price. Since the end of June, the price has stabilized just above approximately €2,800/oz.
Outlook for July 2025
For July 2025, new impulses are expected from the US Consumer Price Index (CPI), the development of which will significantly influence the monetary policy decisions of the Federal Reserve – this could give the gold price fresh momentum. Experts continue to forecast an upward trend in the gold price for 2025, with possible peaks over $3,400 per ounce by the end of the year.
In summary, it can be said: The current strong gold price is supported by a weaker USD following its highs and ongoing trade uncertainty, while market participants are eagerly looking at US inflation data to derive further trends.