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Gold could test US$4,000 an ounce amid fiscal fears, escalating trade tensions: market watchers

A debt-to-GDP ratio not seen since wartime levels has stoked fiscal fears over the world’s largest economy

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Mia Pei

Mia Pei

Published Fri, Jun 6, 2025 · 01:31 PM
    • The gold rush is driven by investors seeking alternative capital preservation.
    • The gold rush is driven by investors seeking alternative capital preservation. PHOTO: AFP

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    [SINGAPORE] While gold has cemented itself above US$3,000 an ounce in 2025 amid trade uncertainty and US fiscal fears, a bullish forecast could see US$4,000 an ounce within a year’s time, said market watchers.

    In Asian trading on Friday (Jun 6), spot gold was trading around US$3,371 an ounce as at 12.19 pm, up 29 per cent year to date.

    As the US’ debt-to-GDP ratio has exceeded 120 per cent, a level unseen since World War II, investors are seeking a safe haven asset alternative to the greenback, noted Bank of Singapore’s currency strategist Sim Moh Siong.

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