Is gold still shining?
While there are enough catalysts to support the metal’s prices at current levels, a sustained rally from here might prove more challenging
SHIFTING macroeconomic conditions and easing geopolitical tensions are reshaping market sentiment and clouding gold’s near-term outlook. After hitting record highs earlier this year, gold prices have begun to retreat, prompting a fresh question for investors: Has the metal’s rally run its course, or is this merely a pause before the next surge?
Below are eight key questions I address about the current state of the gold market.
Was the recent high in gold a short-term peak?
Gold has been one of the top performing assets in 2025, rising 28 per cent year-to-date (as at Jul 24, 2025) amid strong demand from investors and central banks.
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