Gold prices recovered above $3,300 per ounce after posting their first back-to-back weekly declines of the year.
Market participants are focused on the Federal Reserve’s upcoming interest-rate decision and watching developments in U.S.-China trade relations for cues that could influence safe-haven demand.
Even with the recent pullback, gold has had a strong 2025 performance, rising nearly 25% year-to-date and reaching record highs above $3,500 earlier in the year.
The rally has been driven by worries over global trade uncertainty, shifts in U.S. economic policy under President Trump, and heavier purchases from Chinese investors as well as increased accumulation by central banks around the world.