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

[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.