Gold prices tipped to rise despite global market meltdown | The Business | ABC News

Описание: While gold prices have fallen during the global market rout, analysts think the precious metal has a bright future, with prices tipped to rise. 

The price of spot gold has hit record highs in 2025, worth more than $US3,000 an ounce or around $5,000 Australian dollars.  Analysts from Macquarie Bank say it could go as high as $US3,500 an ounce in the September quarter. 

Rabobank's Ben Picton says the recent sell-off sparked by Donald Trump's tariffs is expected be short-lived. He said "if we see a recession around the world, typically that will mean lower interest rates. So we (could) start to see bond yields falling and central banks starting to cut interest rates ... that makes gold more attractive." 

While Gold has escaped Donald Trump's tariffs for now, there's still been a rush to buy bullion in the US with investors moving gold bars from London to America. The price has hit a record high more than 20 times since the US President's inauguration. The rally is also being fuelled by central banks stockpiling tonnes of gold bars.  Since Russia's invasion of Ukraine, they've been diversifying their reserves away from the US dollar.  

Samuel Yang travelled to Alkane's Tomingley mine in outback New South Wales for this report.

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