World gold prices will tend to increase in the next 6 to 9 months, with the potential to increase to 3,300-3,400 USD/ounce, said strategists at State Street Global Advisors SPDR.
According to some notes, factors driving the gold market to increase prices include recovering investor demand, increasing risk of recession/istically stagnant inflation in the US, ongoing geopolitical instability and continuous buying activities of central banks in emerging markets.
The main upward trend in gold prices in 2025 will likely come from the cash flow of financial investors starting to pour into gold, followed by the strong demand for physical gold in the 2023-2024 period, gold price forecasters at State Street Global Advisors SPDR stated.
However, strategists say an unpredictable change in factors affecting gold prices could create unpredictable risks. Experts point out that China's imported non- currency gold - that is, the amount of imported gold for use in trade or personal investment, not central bank reserve gold - in January and February was much lower than expected. This is an important indicator to monitor.
Reuters reported on April 2 that world spot gold prices increased by 0.6% to 3,128.41 USD/ounce after reaching an all-time high in the previous session.
Gold price developments come as investors are cautious and await detailed information about US President Donald Trump's tax plan.
Gold is a popular investment choice in the context of increasing economic and geopolitical instability. Spot gold prices are trading $400 higher than before Donald Trump took office in January and hit a record high of $3,148.88 on April 1.
For weeks, President Donald Trump has highlighted February 2 as "Liberation Day," expected to impose new tariffs on many countries. The announcement was made at 8:00 p.m. on April 2, GMT (ie 3:00 a.m. on April 3, Hanoi time) at the Red Garden of the White House.
Experts say this tax could slow economic growth and escalate trade disputes.
Currently, gold is receiving full support from geopolitical and macroeconomic factors. If Mr. Trump's counter-tax policy does not become dovish and drastic, gold prices will continue to increase strongly" - ANZ commodity strategist Soni Kumari emphasized.
UBS analyst Giovanni Staunovo noted that UBS's basic gold price forecast for this year is $3,200/ounce.
"But according to our forecast, gold could hit $3,500 if the economy is in a serious recession," he said.
