Gold prices continued to show their strength in the European trading session on Thursday (3/13).
The appeal of gold as a safe haven asset that is growing rapidly may surge to a record high of $3,500 per ounce during the third quarter, according to Macquarie Group analysts.
This is still supported by uncertainty surrounding geopolitics and US President Donald Trump's tariff policies. The worsening US budget outlook suggests inflation could increase, which will benefit gold as a hedge, according to Macquarie.
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