Gold prices have surged past $3,000 per ounce, prompting financial institutions like UBS and ANZ to raise their price targets to $3,200. Macquarie has already set a $3,500 target for this year. The upcoming U.S. Federal Reserve meeting, scheduled for March 19 at 11:30 PM IST, remains a key focus for investors. Additionally, Bank of Japan and Bank of China will announce their interest rate decisions this week.
Gold Rally Driven by Geopolitical Tensions
Gold’s upward momentum is fueled by rising geopolitical tensions in the Middle East, with the Russia-Ukraine ceasefire talks also in focus. On MCX, gold prices have crossed ₹88,000 per 10 grams, while silver continues trading above ₹1,00,000 per kg.
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Economic Uncertainty and Safe-Haven Demand
U.S. Treasury Secretary Scott Bessent described the current economic situation as a “transition”, while not ruling out the possibility of a recession. Meanwhile, geopolitical risks intensified after the Trump administration escalated military strikes on Houthi forces in Yemen in response to their attacks on international shipping lanes.
UBS: Gold ETF Inflows Accelerate Amid Uncertainty
UBS reported a sharp increase in gold ETF inflows as investors seek safe-haven assets amid rising risks and central bank demand. The bank has revised its gold price target to $3,200 per ounce, stating:
“We reiterate our preference for gold and view any pullbacks as an opportunity to build fresh long positions. A 5% gold allocation in a USD-balanced portfolio remains optimal for long-term diversification.”
ANZ: Bullish on Gold and Silver
ANZ has also raised its gold forecast, setting a three-month target at $3,100 per ounce and a six-month target at $3,200 per ounce. The bank reaffirmed its bullish outlook, citing: Escalating geopolitical and trade tensions, Easing monetary policies, Strong central bank gold purchases. Gold has already gained 14% in 2024, hitting record highs 14 times this year. ANZ also expects silver to trade in the $34-$36 per ounce range in the short term, ongoing global uncertainties and central banks increasing their gold reserves, analysts predict strong demand for gold and silver in the coming months.
Wednesday, March 19, 2025
United States
11:30 PM – Federal Reserve Interest Rate Decision
11:30 PM – FOMC Economic Projections
11:30 PM – Interest Rate Projection (1st Year)
12:00 AM – Federal Reserve Press Conference
Japan
08:30 AM – Bank of Japan Interest Rate Decision
Thursday, March 20, 2025
United States
06:00 PM – Initial Jobless Claims Moving Average
07:30 PM – Existing Home Sales (February)
United Kingdom
05:30 PM – Bank of England Interest Rate Decision
China
06:45 AM – Loan Prime Rate (1-Year)
06:45 AM – Loan Prime Rate (5-Year, March)
Friday, March 21, 2025
United States
02:00 AM – Federal Reserve Balance Sheet (March 19)
Other Major Events
Tariff Announcements by President Trump
Trump’s Statement on Trade and Economy
Russia-Ukraine War Developments
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
