Gold Price Index 2025

Gold Price Trend, Index and Forecast

Track the latest insights on gold price trend and forecast with detailed analysis of regional fluctuations and market dynamics across North America, Latin America, Central Europe, Western Europe, Eastern Europe, Middle East, North Africa, West Africa, Central and Southern Africa, Central Asia, Southeast Asia, South Asia, East Asia, and Oceania.

Gold Prices Outlook Q2 2025

• USA: US$ 3352/Oz
• China: US$ 2955/Oz
• Indonesia: US$ 3340/Oz
• Japan: US$ 3344/Oz
• Brazil: US$ 3436.62/Oz

Gold Price Chart

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During the second quarter of 2025, the gold prices in the USA reached 3352 USD/Oz in June. As per the gold price chart, the quarter saw frequent intraday spikes triggered by geopolitical headlines and dollar movements. As the dollar weakened, institutional buyers and foreign central banks increased their gold purchases, boosting prices. Besides, investor positioning shifted heavily into defensive assets, with gold being the primary beneficiary.

During the second quarter of 2025, the gold prices in China reached 2955 USD/Oz in June. Chinese gold ETFs saw a turnaround in June, ending a period of flat demand. But this late-quarter inflow came after a noticeable cooling of interest in May, influenced by less geopolitical friction and a drop in safe-haven buying. Moreover, Q2 momentum clearly faded by the end of the period. This drop in trading activity in June suggested weaker speculative interest, which removed some upward pressure on prices.

During the second quarter of 2025, gold prices in Indonesia reached 3340 USD/Oz in June. The Indonesian rupiah hit historic lows during this period. The central bank's intervention failed to meaningfully stabilize the currency, and public confidence waned. As the rupiah depreciated, gold became more expensive in local terms and attractive as a store of value. People feared further losses if they held cash, so they turned to gold, influencing pricing trends.

During the second quarter of 2025, the gold prices in Japan reached 3344 USD/Oz in June. Tariff threats introduced fresh uncertainty for Japan's export-heavy economy. This led to increased domestic interest in gold as a store of value, especially from retail investors. Moreover, as the yen weakened and safe-haven buying picked up, premiums on gold bars rose by the end of June. Besides, local demand outpacing supply, especially among retail dealers stocking up ahead of potential market shocks, influenced pricing trends further.

During the second quarter of 2025, the gold prices in Brazil reached 3436.62 USD/Oz in June. Brazil’s gold prices were shaped by international inflations, global safe-haven demand, high interest rates domestically, along with tepid economic growth. A weaker US dollar caused gold to become cheaper internationally, boosting demand. Simultaneously, increased volatility in the Brazilian real (amid fiscal uncertainty and elections) amplified local gold swings.

Gold Prices Outlook Q1 2025

• USA: US$ 3100/OZ
• China: US$ 2875/OZ
• Indonesia: US$ 2950/OZ
• Japan: US$ 2940/OZ
• Brazil: US$ 2990/OZ

During the first quarter of 2025, the gold prices in the USA reached 3100 USD/OZ in March. As per the gold price chart, concerns over U.S.-China trade tensions, global political stress, and potential tariffs fueled demand for gold as a safe-haven asset. Besides, a weakening U.S. dollar made gold more attractive to foreign buyers as it became cheaper in other currencies.

During the first quarter of 2025, gold prices in China reached 2875 USD/OZ in March. Prices experienced significant fluctuations, influenced by a combination of factors, including China's increasing gold reserves, global economic uncertainties, and shifts in investment strategies. The period also saw a shift in consumer behavior, with more emphasis on gold bars and coins as investment tools. 

During the first quarter of 2025, the gold prices in Indonesia reached 2950 USD/OZ in March. Indonesia's economic conditions, including impacts from tax changes and government policies, influenced local gold prices. Besides, the increasing use of technology in the Indonesian mining sector and sustainability also affected gold production and supply.

During the first quarter of 2025, the gold prices in Japan reached 2940 USD/OZ in March. Prices in Japan saw fluctuations due to a combination of global factors, including rising geopolitical tensions, and the Bank of Japan's (BoJ) policy decisions regarding interest rates and yield curve control. These factors influenced the demand for gold, leading to price volatility. 

During the first quarter of 2025, the gold prices in Brazil reached 2990 USD/OZ in March. Gold prices in Brazil, mirroring global trends, saw significant fluctuations. Changes in the exchange rate between the Brazilian real and the U.S. dollar impacted the price of gold.

Gold Prices Outlook Q4 2024

• USA: US$ 2652/Troy Ounce

During the last quarter of 2024, the gold prices in the USA reached 2652 USD/Troy Ounce (H2 2024 Avg Price) in December. As per the gold price chart, due to changing investor attitudes and economic developments, prices in the United States experienced substantial fluctuations in late 2024. Fears of inflation and geopolitical unrest spurred early gains; however, they were lost as the Fed remained hesitant about rate reduction. Midway through the year, gold's attraction was tempered by a stronger dollar and better economic signs.

Gold Prices Outlook H2 2023

• USA: US$ 1895.25/Troy Ounce

The price of the gold in USA reached 1895.25 USD/Troy Ounce (H2 2023 Avg Price).

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the gold prices.

Global Gold Price Trend

The report offers a holistic view of the global gold pricing trends in the form of gold price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of gold, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed gold demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Gold Price Trend

Q2 2025:

Trade tensions, tariff threats from the US on the EU, Middle East risk, and the Russia–Ukraine war all lifted gold as a haven. Besides, Europe’s political unease, economic stagnation, and faltering euro value made gold particularly compelling. ECB rate moves aimed at growth but risking higher inflation, fueled gold interest. Moreover, Germany and Italy called to repatriate gold held in the US, fearing it might not be safe under Trump’s influence on the Federal Reserve, further influencing pricing trends.

Q1 2025:

As per the gold price index, central banks, including those in Europe, increased their gold holdings, contributing to pressure on prices. Besides, geopolitical tensions and economic uncertainty related to trade policies and global events played a role in driving investors to gold as a hedge against risk. Moreover, elevated demand for physical gold also influenced prices.

Q4 2024:

As seen in the gold price chart, the trajectory in Europe reflected broader global economic influences and regional financial policies. The metal initially thrived on inflationary concerns and economic instability; particularly as central banks navigated monetary tightening. However, as European economies exhibited resilience and inflation pressures eased, gold demand softened. A stronger euro in mid-year, coupled with reduced expectations for aggressive rate cuts, further contributed to gold’s decline. Brief price stabilization occurred in autumn as investors sought strategic entry points, yet sustained upward movement remained difficult due to monetary policy expectations and shifting market conditions.

Europe's gold pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence gold production costs. Additionally, the region's dependency on gold imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for gold can also be provided for an extensive list of European countries.

North America Gold Price Trend

Q2 2025:

As evident by the gold price index, the rise in gold prices, particularly in the US was influenced by the weaker dollar, stagnant interest rates, and heightened geopolitical and economic risks. Treasury yields remained relatively flat in Q2, which helped stabilize the opportunity cost of holding gold. The Fed paused rate hikes after signs of slowing inflation and weaker job growth. Besides, investor sentiment shifted further toward defensive assets. Gold benefited directly from safe-haven demand across hedge funds and family offices in North America. Increased allocation from wealth managers responding to geopolitical risk premiums also played a role in shaping pricing trends.

Q1 2025:

Concerns about a potential U.S. economic slowdown, fueled by factors like trade wars and high inflation, pushed investors towards safe-haven assets like gold. Besides, a decline in the U.S. dollar and U.S. bond yields made gold more attractive to investors. Moreover, the Trump administration's trade policies and concerns about tariffs also contributed to gold's strength. 

Q4 2024:

Gold prices in the latter half of 2024 experienced sharp fluctuations, influenced by economic policies and changing investor sentiment. While early highs were driven by inflation fears and geopolitical risks, the Federal Reserve’s cautious approach to rate cuts prompted a shift. As the dollar strengthened over the summer, gold prices retreated as investors reevaluated their risk appetite. By mid-year, improved economic indicators and cooling inflation further dampened gold’s momentum. A short-lived recovery occurred in the fall as buyers saw value in lower prices, but broader economic factors and the Fed’s stance continued to limit significant price gains.

In North America, gold prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence gold supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific gold historical data within the United States and Canada can also be provided.

Middle East and Africa Gold Price Trend

Q2 2025:

The report explores the gold trends and gold chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Q1 2025:

The report explores the gold trends and gold price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Q4 2024:

The report explores the gold pricing trends and gold price index in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

The gold pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global gold supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Gold Price Trend

Q2 2025:

Gold prices in the Asia Pacific region during Q2 2025 were influenced by a mix of investor sentiment shifts, central bank activity, and market dynamics centered particularly in China. Gold futures trading at the Shanghai Futures Exchange dropped sharply in June due to easing US-China trade tensions and lower risk appetite in the futures market. Besides, the retreat in speculative activity also meant less upward pressure from short-term trades, contributing to more range-bound prices in late Q2. Additionally, as the Indonesian Rupiah depreciated, gold became more expensive in local terms and more attractive as a store of value, further influencing pricing trends.

Q1 2025:

In March 2025, gold saw an increase in its price, which made March one of the best months for gold in decades, setting the tone for a very strong performance in Q1. Besides, China saw gold withdrawals rebound in March after a slow period in February due to the holiday season. This boost, combined with strong investment demand, helped push the local gold price premium higher in March. On the other hand, gold imports to China during the first two months of 2025 were relatively weak. This was due to low demand and the presence of local price discounts, which made imports less attractive during this period.

Q4 2024:

Gold prices in Asia-Pacific saw pronounced fluctuations throughout late 2024, influenced by economic trends and regional demand dynamics. Initial strength was fueled by investor concerns over inflation and economic uncertainty. However, as central banks, including the People’s Bank of China, signaled stability in monetary policy, gold’s appeal as a hedge weakened. The resurgence of local currencies against the U.S. dollar also contributed to price moderation. A minor rebound emerged in the fall as buying interest returned, particularly in India and China, but persistent macroeconomic pressures restricted any sustained rally in gold’s valuation.

In the Asia Pacific region, gold pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of gold, making the Asia Pacific market a complex environment for price trend analysis.

This gold price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Gold Price Trend

Q2 2025:

As per the gold price index, prices saw an upward trend driven by global safe-haven demand, regional central bank policies and shifting currency dynamics. Strong purchases of bullion by central banks, part of a broader global trend, supported prices. Moreover, geopolitical turmoil also amplified investor flight to gold. Besides, diverging regional interest-rate policies affected local credit and currency flows, indirectly altering gold price dynamics.

Q1 2025:

As per the gold price index, in Q1 2025, the average price of gold in Mexico increased, reflecting a significant increase compared to the previous year, with a year-over-year gain. This rise in gold prices was attributed to factors like geopolitical uncertainty, stock market volatility, and the weakening U.S. dollar. 

Q4 2024:

Latin America's gold market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in gold prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the gold price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing gold pricing trends in this region.

Latin America's gold market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in gold prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing gold pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Gold Price Trend, Market Analysis, and News

IMARC's latest publication, “Gold Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the gold market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of gold at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents detailed gold prices trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting gold pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Gold Industry Analysis

The global gold market size reached 3,048 Tons in 2024. By 2033, IMARC Group expects the market to reach 3,516.1 Tons, at a projected CAGR of 1.52% during 2025-2033.

• The expansion of gold production capabilities in well-known mining areas is bolstering the market growth. A recent instance highlighting this pattern is the authorization given to Nevada Gold Mines by the US Bureau of Land Management for the Goldrush underground mine. Set to commence production in late 2024, this endeavor is anticipated to greatly improve production, with a goal of achieving an annual production of 400,000 ounces by 2028. This expansion demonstrates how the industry is reacting to the growing demand for gold for both its role as a secure investment and its use in industries. Additionally, the expectation of upcoming mines opening can enhance market participation and influence the price of gold, strengthening its position as a vital economic asset. In addition, in May 2024, Hindustan Zinc, Jindal Power, and JK Cement emerged as eligible bidders for two gold mines in Rajasthan. At the same time, Deccan Gold Mines intended to commence complete production at the Jonnagiri mine in Andhra Pradesh by the end of 2024.
• Investing in expanding the lifespan of current gold mines is a crucial factor in strengthening the market growth. Harmony Gold announced on February 29, 2024, a significant $410 million investment to extend the operational lifespan of the Mponeng mine in South Africa from seven to twenty years, with renovations commencing in 2025. This investment guarantees a sustained gold supply, showing strong confidence in the future of gold mining in South Africa. Major investments play a vital role in supporting the economic strength of the gold sector, as they enable existing mines to keep up with present and future demand. This helps improve the global gold market by stabilizing the supply and reinforcing investor belief in the lasting value of gold.
• Acquiring strategic assets and optimizing portfolios are vital for strengthening the growth of the market. Pan American Silver Corp. sold its La Arena gold mine and La Arena II project in Peru to Zijin Mining's Jinteng (Singapore) Mining Pte. The acquisition of Ltd. for $245 million, along with a potential $50 million additional payment, demonstrates this trend effectively. This agreement, revealed in April 2024, demonstrates Pan American's plan to simplify its assets after acquiring Yamana Gold. These transactions improve resource allocation and operational efficiencies, and financial returns for major mining companies. Furthermore, they offer chances for purchasing companies to grow their gold holdings, potentially enhancing production capacities.

Gold News

The report covers the latest developments, updates, and trends impacting the global gold industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in gold production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the gold price trend.

Latest developments in the gold industry:

• June 2024: Tennant Mining started building the Nobles CIL gold processing plant near Tennant Creek, NT, expecting to create more than 80 jobs during construction and 160 operational jobs by 2025. Emmerson Resources expected to receive a 6% royalty on gold extracted from the joint venture's properties.
• June 2024: Barrick Gold Corporation revealed a collaboration with Geophysx Jamaica Ltd. to investigate 4,000 square kilometers of Jamaican land. The goal of this partnership was to utilize Geophysx’s knowledge of the area and Barrick's assets to find fresh gold and copper reserves.
• June 2023: Nevada Gold Mines inaugurated the Goldrush Project, a 24-year underground mine set to yield 130,000 ounces of gold in the current year and bring substantial economic advantages to Nevada through employment opportunities and tax contributions.

Product Description

Gold is a dense, soft, malleable, and ductile metal with a bright, slightly reddish-yellow color. It is naturally found in its pure form in nuggets, grains in rocks, and alluvial deposits. It is obtained through mining activities, which involve extracting it from the ore through various processes like crushing, grinding, and a sequence of chemical or mechanical steps to separate the gold.

Gold is typically categorized into two primary types depending on its purity, including 24-karat gold, pure gold, and lower karat numbers representing gold mixed with other metals for hardness and color modification.

Gold is primarily utilized in jewelry for its attractiveness and ability to resist tarnishing. It is crucial in aerospace for its infrared radiation reflection properties, which shield spacecraft and astronauts from solar radiation. It finds applications in dental fillings and implants in both dentistry and medicine because of its biocompatibility. It is also employed in medical therapies, such as in injections for managing rheumatoid arthritis.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of gold pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting gold price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The gold price charts ensure our clients remain at the forefront of the industry.