The Business Times
business-time-50
SUBSCRIBERS

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

Summarise
google-preferred-sourceAdd BT as a preferred source
    • Since the April peak, gold has been trading mostly sideways within a wide and volatile range of US$3,200 to US$3,400 per ounce, losing a bit of momentum as of late.
    • Since the April peak, gold has been trading mostly sideways within a wide and volatile range of US$3,200 to US$3,400 per ounce, losing a bit of momentum as of late. PHOTO: BT FILE

    Alexandra Symeonidi

    Published Sat, Jul 26, 2025 · 05:00 AM

    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.

    GoldWealth & Investing

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More