Tangerang, April 22, 2025 — Global gold prices skyrocketed to an all-time high on Monday (April 21, U.S. time) or Tuesday morning (April 22, WIB), driven by a combination of a weakening U.S. dollar, mounting geopolitical tensions, and investor flight to safe-haven assets. The surge comes amid worsening trade frictions between the United States and China, reigniting fears of a prolonged global economic disruption.
According to Reuters, spot gold prices rose 2.7% to settle at $3,417.62 per ounce, briefly touching an intraday high of $3,430.18—levels never seen before. At the current exchange rate of IDR 16,400 per U.S. dollar, this translates to more than IDR 56 million per ounce.
A Safe Haven in Uncertain Times
Gold’s rally reflects deep unease in financial markets. Investors are increasingly seeking refuge in traditional stores of value as the U.S.–China trade dispute worsens, with new rounds of tariffs and restrictions on strategic minerals being imposed by both sides.
“As tariff tensions continue to escalate, we continue to see gold prices move higher as a safe-haven response,”— David Meger, Director of Metals Trading at High Ridge Futures(via Reuters)
The metal's performance is also buoyed by the weakening of the U.S. dollar, which makes dollar-denominated assets like gold more attractive to foreign investors. This inverse relationship has historically made gold a preferred hedge during times of currency volatility and inflation risk.
Strong Demand from Institutions and Central Banks
Beyond retail investors, central banks around the world have significantly increased their gold reserves in recent years. A recent survey by the World Gold Council, cited in another Reuters report, found that over 70% of central banks now view gold as a more attractive reserve asset than U.S. dollars, citing concerns over political influence in monetary policy and currency depreciation.
In addition, gold-backed Exchange-Traded Funds (ETFs) have seen net inflows for six consecutive quarters, reflecting the metal’s growing appeal among institutional investors seeking portfolio diversification amid global uncertainty.
Profit-Taking and Market Outlook
Despite the bullish momentum, analysts warn that gold's steep climb may lead to short-term corrections. Some investors are expected to engage in profit-taking, especially after such a rapid price escalation.
Nevertheless, most market watchers remain optimistic about gold’s medium-term trajectory.
“The fundamentals continue to support a bullish outlook. Until there’s clarity on trade policy, inflation control, and geopolitical stability, gold will remain a defensive play,”— Amira Patel, Senior Commodities Strategist at GlobalView Analytics
Looking Ahead
Going forward, gold prices will likely remain sensitive to macroeconomic signals, including:
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Inflation reports and interest rate decisions from the U.S. Federal Reserve
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Continued developments in U.S.–China trade relations
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Shifts in global risk sentiment due to geopolitical hotspots such as the Taiwan Strait or Middle East
In times of rising uncertainty, gold often becomes more than just a metal—it becomes a symbol of stability. And in 2025, it seems the world is once again turning to it, not just for wealth preservation, but for peace of mind.
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