War, Uncertainty and Safe-Haven Demand
Gold is on fire.
+15% in 2023
+35% in 2024
+35% again — just in the first 4 months of 2025 (!)
Now trading near all-time highs: $3500
What’s driving the rally?
Global tensions:
China–Taiwan
Iran/Hamas–Israel
Russia–NATO
India–Pakistan
All on the edge of escalation. This fuels demand for safe-haven assets.
Trade Wars 2.0:
— US hits China with 145% tariffs
— China retaliates with 125% tariffs
— US GDP down -0.3% in Q1 2025
Uncertainty = more demand for gold.
We've seen it before:
In 2018, trade wars triggered a long gold rally.
From 2018 to 2020 → Gold +100%
Target: $4000–5000 is on the table.
Gold is on fire.
+15% in 2023
+35% in 2024
+35% again — just in the first 4 months of 2025 (!)
Now trading near all-time highs: $3500
What’s driving the rally?
Global tensions:
China–Taiwan
Iran/Hamas–Israel
Russia–NATO
India–Pakistan
All on the edge of escalation. This fuels demand for safe-haven assets.
Trade Wars 2.0:
— US hits China with 145% tariffs
— China retaliates with 125% tariffs
— US GDP down -0.3% in Q1 2025
Uncertainty = more demand for gold.
We've seen it before:
In 2018, trade wars triggered a long gold rally.
From 2018 to 2020 → Gold +100%
Target: $4000–5000 is on the table.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.