Gold prices surged to an all-time high, breaking above the $3,300 mark to reach $3,317 per ounce on Tuesday. The rally, driven by global economic uncertainty and robust investor demand, reinforces gold’s status as a go-to safe-haven asset during times of turbulence.
The spike coincides with heightened geopolitical tensions and persistent inflation concerns. Investors are increasingly turning to gold as a hedge against currency volatility, amid mixed signals from central banks. The U.S. Federal Reserve’s recent indication that interest rates may remain elevated longer than expected has only strengthened gold’s appeal.
Adding to the momentum, delivery notices for the April 2025 COMEX 100 Gold Futures contract surged to a record-breaking 61,463 contracts as of April 15 — valued at approximately $20.2 billion at $3,300 per ounce. This mid-month cumulative volume reflects extraordinary demand for physical gold settlement and surpasses the previous monthly record of 59,296 contracts set in February 2025. The notional value, amplified by record-high prices, underscores the scale of market activity.
Central banks are also contributing to demand, with a reported 12% year-on-year increase in gold purchases, particularly among emerging markets, according to the World Gold Council. Retail interest remains strong as well, with rising demand for gold coins and bars in India and China, while gold-backed ETFs recorded $2.7 billion in inflows over the past month, Bloomberg data shows.
Market analysts remain divided on the short-term outlook. While some foresee continued upside amid global instability, others caution that gold may face a technical pullback after testing historic highs. As of 6:00 AM EST, spot gold was trading at $3,304, up 1.8% on the day and over 25% year-to-date.
Investors will be closely watching upcoming economic data and geopolitical developments to gauge whether gold’s momentum can be sustained.
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