The price of Gold (XAU/USD) witnessed a significant decline during the American trading session on Friday (March 21, 2025), hovering around $3,000 after reaching a historic peak of $3,057 the day before. This sharp decline was prompted by investors taking profits, triggering notable market volatility.
On the geopolitical front, ongoing tensions in Gaza and Turkey contribute to global uncertainty, affecting market sentiment. Furthermore, market participants are bracing for comments regarding tariffs from U.S. President Donald Trump, particularly relating to reciprocal tariffs set to take effect on April 2, which could further shake the markets.
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Amidst all this tension, the price of Gold has surged by 16% this year, driven by investors’ search for safe-haven assets in light of geopolitical uncertainties, especially in the Middle East and Ukraine. Major banks, including the Macquarie Group, have even raised their price targets, with projections estimating that gold could reach $3,500 per ounce, indicating a strong bullish outlook for this precious metal in the long run.
