A Year of Unstoppable Momentum
On October 16, 2025, gold reached a new all-time high (ATH) of $4,380 per ounce, according to TradingView. Data from Companies MarketCap values gold’s total market capitalization at approximately $30.38 trillion, reinforcing its dominance as a global safe-haven asset, as noted by The Economic Times.
Since the start of the year, gold has risen more than 60%, fueled by geopolitical tensions, expectations of aggressive Federal Reserve rate cuts, massive central bank purchases, and a growing shift toward de-dollarization. Gold ETFs have also seen a sharp influx of funds, reflecting strong investor confidence.
At the time of writing, gold trades around $4,360 per ounce.
Why Gold Keeps Shining
Investors are rapidly pivoting to safe-haven assets amid market volatility, a weaker U.S. dollar, and expectations of looser monetary policy, making gold increasingly attractive.
Analyst Craig Erlam of OANDA’s MarketPulse observed:
“Gold’s outlook will depend largely on the trajectory of interest rates in 2026 and the relationship between the U.S. and China. If no agreement is reached and tensions escalate, gold could exceed $5,000 per ounce.”
Meanwhile, Reuters reports that ANZ expects gold to reach $4,400 per ounce by late 2025, potentially peaking near $4,600 in mid-2026, before a correction begins once the Fed’s rate-cutting cycle concludes.
According to Trading Economics, prices may stabilize around $4,066 by the end of the current quarter, with potential to rise toward $4,248 over the next 12 months.
Main Forces Behind the 2025 “Gold Rally”
- Expectations of Federal Reserve rate cuts
- Weakening U.S. dollar
- Escalating trade tensions between the U.S. and China
- Rising demand for defensive assets
- Sustained central bank purchases of gold
As a reminder, gold’s previous record was set on September 22, following a deep correction in the crypto market — a shift that once again highlighted investors’ renewed faith in tangible, time-tested assets like gold.
