Gold Shatters and Goes Beyond The $3100/oz Target

Once again, #XAUUSD has reached the first of our new price targets, after completing the second 2025 scenario on March 14.

This time, the move found its fuel in the uncertainty dominating the geopolitical and geoeconomic landscape on the weekend. Trump said he “does not like what Putin is doing”, blaming him for not wanting to make a peace deal. As a result, he threatened new 25% tariffs on Russia’s oil export, which does only one thing – contribute to the escalation of US-Russia relations. He also added to the threats, saying that he will order to bomb Iran if the country does not take the nuclear deal.

Moreover, Musk called to “end the Federal Reserve”, calling it overstaffed and fraudulent. He demanded that a live footage of Fort Knox should be held, in order to assess once and for all if the US gold reserve exists at all.

Furthermore, analysts around the globe start fearing that a US recession might be highly likely this year. As for us, we warned you in our 2025 forecasts series, that the recession scenario was one of the options to consider, when navigating the markets this year.

During March 31’s Asian session, gold jumped from last week’s close to a fresh new ATH of $3120/oz, taking out the $3100/oz level.

Future dynamics will be decided by April 2 unveiling of which tariffs will effectively be applied, and which ones are to disappear like smoke in the wind. In any case, the metal thrives in uncertain environments, so, even after a correction, further upside will be the main direction to follow.

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