In a historic new feat, gold has crossed an ambitious price pedestal of $2,900, marking another high within the predicted timelines. The precious yellow metal is now inching closer to hitting another historic all-time high of $3,000. Will the metal be able to claim this spot by the end of February 2025?
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Gold Claims New High of $2,915
Gold, otherwise touted as “the” solid hedge option for investors, has successfully crossed a high price mark of $2,900. The precious yellow metal is already eyeing its next target of $3,000, which the metal may breach by the end of this month if the market forces allow the metal to thrive and prosper on the go. The US economic demographics have had a key role in bolstering gold’s price hike to $2,900. For instance, uncertainty around global trade wars with Trump imposing tariffs on nations was one of the key reasons for gold spiking to a high price.
Donald Trump is still vying for a local narrative, which includes bolstering the US economy and keeping it prioritized on all fronts. This development may compel the US president to issue tariffs on nations, with an intent to bolster productivity in the US manufacturing domain. While the idea holistically supports the US economy, it may put the US dollar in jeopardy, sparking aggressive trade war fears. This situation may prove lucrative for assets like gold that have often been noted to thrive in a crisis, with investors sentiment shifting towards the precious yellow metal to help stabilize and safeguard their assets.
WATCH: Gold prices hit a record high, driven by safe-haven demand after Donald Trump imposed new tariffs on steel and aluminum imports, raising fears of a global trade war https://t.co/6s93kjV4Vz pic.twitter.com/7rREkXIBGA
— Reuters Business (@ReutersBiz) February 12, 2025
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The Precious Asset To Ultimately Hit $3,400, Expert Adds
Per a notable finance expert, Rashad Hajiyev, gold has crossed the $2,900 mark, delivering a slingshot after undergoing slight consolidation.
“Gold formed a nice slingshot all th way until $2,863 and is now back above $2,900. Looking good, and after further consolidation, I expect another all-time high. But at this point I would like gold to pause a bit, allowing silver to do some work…”
Gold formed a nice slingshot all the way until $2,863 and now back above $2,900. Looking good and after further consolidation, I expect another all time high. But at this point I would like gold pause a bit allowing silver to do some work… pic.twitter.com/44BnIYKVds
— Rashad Hajiyev (@hajiyev_rashad) February 13, 2025
At the same time, Hajiyev forecasted a new price pedestal for gold, adding how XAU may surge and swell to $3,400.
My view on gold: the path to $3,400… pic.twitter.com/DjXzssyOKI
— Rashad Hajiyev (@hajiyev_rashad) February 7, 2025
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