Gold Prices Surge Above $2300. Is $2500 The Next Stop?

Gold’s Meteoric Rise: A New Chapter Unfolds

As Gold prices continue their unstoppable run higher, scaling new all-time record highs for a third consecutive quarter in a row – analysts at GSC Commodity Intelligence have dubbed this the beginning of a “New Era” for the Precious Metal.

That comes as no surprise, given today’s highly macro-driven backdrop is fuelling one of the greatest and most ferocious rallies the Gold market has ever seen.

Gold has been on a parabolic run since October last year, surging from near the $1,800 level to score back-to-back all-time record highs since the start of this year – not once, not twice, but on multiple occasions.

During March, we saw Gold prices breach $2,159 an ounce, $2,180 an ounce, $2,222 an ounce, $2,225 an ounce and wait for it – drum roll please… $2,236 an ounce mark – notching up “five” back-to-back all-time record highs within a period of just 21 days.

Gold’s powerful bullish momentum has spilled over into April – sending prices to a new all-time high of $2,365 an ounce at the time of writing – advancing in 5 of its last 7 trading sessions, so far this month.

The precious metal is up over 19% since mid-February. But more impressively, Gold prices have now chalked up a dazzling gain of more than 31% since October.

According to GSC Commodity Intelligence – “Gold’s record-breaking run has been nothing short of impressive. Never before in history have we seen the precious metal score multiple all-time record highs in such a short space of time”.

The Bullish Tailwinds Behind Gold’s Spectacular Rise

And this could just the beginning!

Right now, the precious metal is being driving by “a multitude of bullish tailwinds” including the upcoming global pivot towards interest rate cuts. Growing instability in China’s economy, leaving investors with no other option, but to pile into Gold at one of the fastest paces ever seen.

The ongoing de-dollarization movement taking shape globally, with Central Banks around the world continuing to accumulate Gold at a record-breaking rate of over 1,000 tonnes for the 19th straight month.

And more recently, perhaps the most bullish catalysts of all – Zimbabwe launching a new “Gold-Backed” currency to replace the dollar. To quote GSC Commodity Intelligence – “the significance of this cannot be understated, as it potentially hands the BRICS group of nations a robust framework to rollout their own Gold-backed currency, a lot sooner than anyone expects.”