Gold passes US$3,500 for first time

A summary of the most important gold news and analysis of the last week.

Gold price USD/OZ: $3,307.52 [View live gold price.]

Change from last week: -$7.61 (-0.23%)

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Gold news

• Gold price passed $3,500 USD per ounce for the first time on 22 April, 2025.

• Gold price passed $3,400 USD per ounce for the first time on 21 April, 2025.

• JP Morgan see gold prices crossing $4,000/oz by Q2 2026

• Gold at ‘multiples of $3,000’ possible, Sprott says

• U.S. policies, global instability are driving central banks to gold, views on the dollar are divided – HSBC

• Gold prices could reach $5,000 amid US-China tensions, predicts deVere Group

• Billionaire Paulson says central banks will keep buying gold

"Central banks will keep buying gold in a push to diversify away from paper currencies amid political and economic upheaval, according to billionaire hedge-fund manager John Paulson."

• Gold rush 2.0: Why the world is turning to the yellow metal again

🌐 World gold news

🇨🇳 China

• China's central bank's gold stash spikes to 2,292 tonnes and Beijing is still buying

• Gold fever rips through China as Trump’s trade war raises stakes

• China launches major push to help Shanghai Gold Exchange compete with LME for pricing power

• China to boost yuan with overseas gold storage facilities as it challenges US hegemony

• Sell jewellery in 30 minutes: How China’s new gold ATM turns yellow metal into cash

🇮🇳 India

• Reserve Bank of India is on a gold-buying spree

"With the US dollar losing its sheen as the world’s most trusted reserve currency, central banks across the world have been on a gold buying spree. The Reserve Bank is in the forefront as the second largest buyer of the yellow metal, snapping up 2.8 tonnes in January and February 2025 alone, on top of 72.6 tonnes in 2024, taking the overall haul to 879 tonnes."

• As global markets wobble, Sridhar Vembu explains why India’s love for gold might be the country’s biggest strength

🇮🇪 Ireland

• Central Bank sparkles as State’s gold reserve hits record, surpassing €1bn

🇰🇪 Kenya

• Kenya central bank is ‘actively considering’ buying gold

🇱🇦 Laos

• Lao Bullion Bank, KPV Gold collaborate to elevate gold business, offer exclusive privileges

🇵🇱 Poland

• Poland's gold reserves break through 500-ton mark, c. bank says

🇸🇬 Singapore

🇨🇭 Switzerland

• Wealthy Americans are pouring money into Swiss bank accounts and buying gold to weather the recession

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🇹🇼 Taiwan

• As global gold price surges over 30%, Taiwanese investors shift to physical gold

🇹🇷 Türkiye

• Turkish gold contracts trade at huge premiums as buyers pile in

🇦🇪 United Arab Emirates

• In Dubai's Gold Souk, bullion's record run brings little joy for jewellers

• Huge demand for gold bars at bustling Dubai souq as prices soar

• Gold prices in UAE: Some shoppers sell old jewellery, delay buying new

🇻🇳 Vietnam

• Deputy PM wants central bank to prevent gold speculation

Gold-backed cryptocurrency

• Tether Gold XAUt: dominating the tokenized gold market amid rising gold prices

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice. For advertising and news submission requests, contact us.