Gold has experienced a remarkable surge this year, surpassing previous records and becoming a safe haven for investors navigating uncertain markets. Since the beginning of 2025, gold prices have risen by 23.27%, breaking 28 all-time records in just four months. In the second quarter alone, gold’s price increased by nearly 6%, starting the new financial year at $5,037.68 per ounce. According to Cassiar Gold CEO Marco Roque, this rally is fuelled by a unique combination of central bank buying, sovereign wealth funds, and Asian retail investors.
Policy tailwinds from China, including government support for gold investment across new sectors, appear to have boosted local demand. Tim Winmill, Portfolio Manager at Midas Discovery Fund, notes that central banks in creditor nations like China are diversifying out of the USD, contributing to gold’s rise. State Street Investment Management highlights the consistent role of central banks, which have purchased over 1,000 tonnes of gold annually since the Russia-Ukraine war began in 2022. The Department of Industry, Science and Resources (DISR) attributes this surge to growing investor concerns about the US fiscal outlook and geopolitical risks.
Antipa Minerals CEO Roger Mason believes the current macroeconomic environment continues to support gold as a strategic asset class. Antipa Minerals (ASX:AZY) is focused on mineral exploration. North Stawell Minerals (ASX:NSM), another Australian company, is a Victoria-focused gold explorer planning to accelerate exploration. Rua Gold CEO Robert Eckford believes the market will maintain its strength into late 2025 and beyond, citing unchecked government spending and currency devaluation.
Opawica Explorations CEO Blake Morgan highlights new gold discoveries and mine permits as drivers of opportunity, particularly in the Abitibi region of Québec. Overall, the outlook for gold remains positive as it navigates volatile markets and geopolitical uncertainties. Renforth Resources CEO Nicole Brewster anticipates a bright future for gold, supported by ongoing central bank purchases. In a World Gold Council survey, 95% of respondents expect central bank gold reserves to increase over the next 12 months, indicating sustained confidence in the precious metal.
