Solomon Global: Gold Hits $3,170 as Central Banks and Investors Drive 40% Surge

- spot price of precious metal increases 19% in Q1 of 2025 -

LONDON, April 3, 2025 /PRNewswire/ -- Gold's meteoric rise continues, with the precious metal setting its 21st record high of the year.

The economic uncertainty caused by Trump's tariff assault has been a major driver of gold's price with 'safe-haven' buying pushing the precious metal to an unprecedented $3170.65 per troy ounce^[1]. Between April 1st, 2024, and April 1st, 2025, gold has risen $902.5 per troy ounce, equating to a 40.2% gain. The S&P 500 and FTSE 100 have posted more modest gains of 7.2% and 8.8%, respectively, over the same period, while the US Dollar Index (DXY), which measures the dollar's strength against a basket of major currencies and typically moves inversely to gold, has declined nearly 6% since Trump's inauguration on January 20th, 2025.

Central banks remain key players in gold's ascent. The World Gold Council's Gold Demand Trends: Full Year 2024 report said that central bank buying had exceeded 1,000t for the third consecutive year, accelerating sharply in Q4. It also highlighted in March that central banks remained bullish on bullion in January 2025 and had reported 18t of net purchases at the start of the year.  

Paul Williams, managing director of Solomon Global, a company specialising in the secure delivery of physical gold bars and coins for private ownership, stated in March that gold at $3,500 by summer was within the realms of possibility. Goldman Sachs, in a report released on March 26^th, upped its year-end gold price outlook and noted that in a tail-risk scenario, gold prices could even exceed $4,200 per troy ounce by the end of 2025.

"Gold's soaring value is a stark barometer of global unease, reflecting deep economical and geopolitical tensions," said Paul Williams, MD of Solomon Global. "With no relief in sight for the forces driving this surge, any significant near-term retreat seems unlikely. Even at record levels, gold demand remains robust because investors recognise the precious metal's ongoing role as a hedge against inflation, geopolitical instability, and financial market volatility."

For more information about Solomon Global's products and services, visit the website at https://solomon-global.com.

NOTES TO EDITORS

About Solomon Global

Solomon Global specialises in the secure delivery of physical gold bars and coins for private ownership. The company takes a uniquely consultative approach to purchasing and selling physical gold and silver, regardless of the investment amount. Its simple and tailored strategy is designed to work with beginners and experienced investors alike.

Solomon Global's team of experienced professionals is always available to provide practical solutions for clients - including products that are exempt from Capital Gains Tax - and assist with any inquiries.

Solomon Global was awarded 'Most Trusted UK Gold Bullion Supplier 2024' at The London Investor Show Awards 2024.

For any questions about buying or selling gold and silver, contact the team here: https://solomon-global.com/contact/ 

For further press information, please contact: Francesca De Franco on 0794 125 3135 or email [email protected] 

^[1]Hit a peak of $3170.65 on April, 3^rd 2025 (source: https://www.royalmint.com/gold-price)   

[i][i] Disclaimer: This press release is for informational purposes only and does not constitute financial advice. Buying physical gold as an investment involves risk, as the value of precious metal prices can be volatile. Historical financial performance does not necessarily give a guide of future financial performance. We recommend that you conduct your own independent research and seek professional tax, legal and financial advice before making any investment decisions.

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SOURCE Solomon Global