[Global Times Financial Comprehensive Report] On June 16, gold's earlier gains were erased, with prices currently trading near 3,430perounce—about70 below the all-time high set in April. Bloomberg reported that gold has surged over 30% in 2025, with central banks seeking to reduce dollar dependence and diversify assets emerging as another major catalyst for the rally.
Citing Guardian Gold Australia analyst John Feeney, Bloomberg noted: "Gold remains extremely close to its record peak, and given the current geopolitical climate, any further escalation could push prices even higher." Feeney added, "Gold has performed exceptionally well as a safe-haven asset recently, with many investors seemingly shifting funds out of U.S. Treasuries into long-term gold holdings."
Prices rose 1.4% on Friday (June 13) following weaker-than-expected U.S. inflation and jobs data, which fueled market bets that the Federal Reserve may cut rates later this year. This marked a third consecutive day of gains. Since gold yields no interest, lower rates typically bolster its appeal. (By Wen Hui)