Thursday, Jan. 16, saw gold hit its highest level since Dec. 12, 2024. Rael Demby, CEO of The South Gold Coin Exchange and The Scoin Shop expects this trend to continue amid uncertainties surrounding the U.S. Federal Reserve's interest rate trajectory. The South African Gold Coin Exchange and Scoin Shop have reported an early surge in demand for Krugerrands and other gold coins. "This activity level so early in the year is unusual," Demby noted. "It underscores a growing awareness among South Africans of safeguarding against currency volatility and inflation. Markets face several  headwinds in 2025 — but we believe gold's record rally is set to continue."

Other commentators support this bullish sentiment. "Investors are optimistic about gold and silver for 2025 because they are so pessimistic on geopolitics and government debt," said Adrian Ash, director of research at BullionVault, a gold investment services firm. Ash emphasises the yellow metal's role as a hedge against risk. 

JPMorgan analysts also expect gold prices to rise, especially if U.S. policies become "more disruptive" in the form of increased tariffs, elevated trade tensions and higher risks to economic growth.  Gold notched its best annual performance in over a decade last year. Bullion prices rose about 26% in 2024, data from FactSet showed, driven by central bank as well as retail investor purchases.

BullionVault and JPMorgan expect gold prices to reach $3,000 per ounce in 2025. Gold's status as a time-tested asset is rooted in its ability to retain value for centuries. Its role as a hedge against inflation, currency devaluation, and economic instability cements its position as a haven in times of uncertainty. "As the week unfolds, all eyes will remain on gold," Demby concluded.