Gold has broken through the $3,000 per ounce barrier, extending a remarkable 75% rally that began in November 2022.
This surge reflects growing global instability and has attracted diverse investors from private individuals to central banks.
Key drivers include political uncertainty under President Trump, increasing stagflation risks, anticipated Fed rate cuts, and central banks diversifying away from the US dollar.
In the short term, traders are watching for signs of US stagflation and impacts from Trump’s tariff policies to potentially push prices even higher, challenging Warren Buffett’s famous criticism of gold as an “unproductive asset.”