Gold Prices Surge 1%, Poised for Best Week in Over a Year

Rising geopolitical tensions and central bank buying drive gold prices toward record highs, with analysts predicting further gains in 2025.

Gold prices climbed to $2,703 per ounce on Friday, marking a 5% weekly increase, the highest since October 2023.
Geopolitical tensions, including Ukraine's recent drone strikes on Russian infrastructure, have increased demand for gold as a safe-haven asset.
Central bank gold purchases have surged five-fold since 2022, with emerging markets diversifying reserves due to policy uncertainties.
Goldman Sachs analysts reaffirm their projection of gold reaching $3,000 per ounce by 2025, citing strong central bank and ETF inflows.
Upcoming U.S. economic data, including GDP and inflation metrics, could influence short-term gold price movements.