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Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.

Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.

“Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.

Source – Reuters

Gold prices have steadied after surging to a record high amid early signs of consolidation following the rally built on fears around U.S. President Donald Trump’s trade policies.

The precious metal eased to close at $3,287.72 an ounce on Wednesday, down 6.1% from the all-time peak of $3,500.05 hit on April 22.

Total gold investment flows sky-rocketed by 170% in the first quarter of 2025 from the same period a year earlier, reaching 552 metric tons, the highest since the first quarter in 2022, the WGC said in its report on Wednesday.

Source – Reuters

Shares in the gold miner are currently swapping hands at $76.60 apiece, more than 2% higher from the open as investors process the numbers.

2024 was a transformational year for Newmont, as we focused on the integration of the Newcrest portfolio, divestment of our non-core assets, and transitioning the business onto a stable operating and investment platform.

We have deliberately streamlined Newmont into the world’s best collection of Tier 1 gold assets, with a strong foundation of operational and financial performance. Our record fourth quarter gave a glimpse into the promising potential of the business and allowed Newmont to deliver record operating cash flows.

Source – The Motley Fool

“While traditionally inflation and real yields have been the main drivers of gold prices, recently central bank buying has emerged as the primary catalyst behind the current gold price increase,” according to a recent research note by Bank of America’s Global Commodity Research’s Franciso Blanch and Irina Shaorshadze.

George Milling-Stanley, chief gold strategist at State Street Global Advisors, also believes central-bank buying will keep gold humming this year, but he also sees two additional drivers. 

Source – Fox Business