From the mark of 2,000 USD/ounce in early 2024, world gold prices have been continuously climbing, officially surpassing the threshold of 3,300 USD/ounce in mid-July 2025.
According to international gold experts, three key factors will determine the future of gold prices in the next 6 months: Consumer behavior, geopolitical tensions and prolonged inflation.
Are consumers holding gold or selling?
Brandon Aversano, CEO of precious metals company The Alloy Market, said: We see both trends at the same time: New buyers pour in to prevent financial risks, while long-time investors start selling to make a profit.
This creates a relatively balanced supply-demand balance, helping gold prices stay stable at a high level instead of plummeting after the usual hot increase.
Meanwhile, Imaru Casanova - manager of the precious metals portfolio at VanEck - said that gold is forming a "new price level", ranging from 3,000 to 3,100 USD/ounce, as a basis for continuing to move up if new economic fluctuations appear.
Global stress
Not only a financial asset, gold is increasingly becoming a "shelter" as the world enters a period of instability.
Any event that disrupts the market or shakes confidence in money from war, debt crisis to supply chain disruption can send gold soaring, Aversano warned.
The situation of public debt, military conflict and trade instability all contribute to strengthening golds role as a safe haven asset, Casanova added. If there is an escalation, gold prices could be pushed to new peaks.
Persistent inflation: Gold is still a shield
Although global inflation has cooled down compared to the peak, structural factors such as budget deficits, loose fiscal policies and supply disruptions still threaten to push prices higher again.
Inflation remains unpredictable. And when commodity prices escalate, people will pour money into gold to keep the value of their assets, Aversano said.
Casanova agreed: "Gold remains an effective hedge against prolonged inflation and demand from the people and central banks will not end soon".
Not enough money to buy gold? There is another option
As gold prices hit record highs, many investors are turning to silver - a precious metal with cheaper prices and stronger percentage growth potential.
Advantages of silver: Silver is much lower than gold, easy to access for beginners. Silver reacted strongly when the precious metal market was bustling. Silver benefits from the wave of green energy, because silver is an essential component of solar energy technology and electric vehicles.
In terms of disadvantages, silver fluctuates more strongly and is difficult to control. Silver depends on the economic cycle, because it is still an industrial metal. Silver is little held by central banks, lacking support from institutional investors.
Experts recommend that if you are considering investing in gold, watch real US interest rates, currency fluctuations and global market sentiment. Choosing the form of investment should be carefully considered according to the risk appetite of each individual.
