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Gold Prices Soar to Record Highs, Experts Predict Potential Decline
16 Oct
Summary
- Gold prices hit record high of $4,225.69 per ounce
- ANZ forecasts gold to surge to $4,400 by year-end, peak at $4,600 by mid-2026
- Gold seen as safe haven amid economic and geopolitical uncertainties
As of October 17th, 2025, gold prices have experienced a remarkable surge, rising 61% year-to-date. The precious metal has hit a new record high, with spot gold reaching $4,225.69 per ounce and U.S. gold futures for December delivery gaining 0.9% to $4,239.70.
This surge in gold prices is largely attributed to investors seeking refuge in the safe-haven asset amid persistent geopolitical and economic uncertainties. Expectations of U.S. rate cuts and a weaker dollar have also provided additional support for the precious metal.
Looking ahead, the outlook for gold remains positive, at least in the near term. According to forecasts from ANZ, gold prices are expected to surge further, reaching $4,400 per ounce by the end of 2025. The bank also predicts a peak near $4,600 by June 2026. However, the analysts caution that a potential decline in the second half of 2026 could occur as the U.S. Federal Reserve concludes its easing cycle.
The factors driving the current gold rally are expected to persist, with mounting concerns around the Fed's independence, political uncertainty, trade tariffs, geopolitical tensions, and ballooning debts continuing to fuel strong strategic investment interest in the precious metal.
