Weekly Gold Market Recap: 3–9 March 2025

This past week, the gold market experienced notable fluctuations influenced by geopolitical tensions and economic data releases.

Price Movements

At the start of the week on 3 March 2025, gold was priced at $2,870.49 per ounce, marking an increase of 0.44% from the previous session.  By 10 March 2025, spot gold had eased to $2,902.04 per ounce, reflecting a 0.3% decline due to profit-taking activities.   

In South Africa, the gold price per ounce was R53,835 on 3 March 2025, reaching a high of R53,968 on 4 March, and settling at R52,933 by 10 March. 

Key Influences

The market’s movements were significantly impacted by geopolitical uncertainties, particularly escalating trade tensions involving the United States. The imposition of new tariffs and concerns over potential global economic slowdowns heightened demand for gold as a safe-haven asset. 

Additionally, market participants closely monitored upcoming U.S. inflation data, anticipating its potential influence on Federal Reserve monetary policy decisions. Expectations of a rate cut in June have bolstered gold’s appeal, as lower interest rates reduce the opportunity cost of holding non-yielding assets like gold. 

Market Outlook

Looking ahead, the gold market is poised to react to forthcoming economic indicators and geopolitical developments. Investors are advised to stay informed on these factors, as they will likely continue to drive gold price volatility in the short term.