Cassiar Gold Corp. (TSXV: GLDC, OTCQX: CGLCF)
Revitalizing the Cassiar Gold District in British Columbia, Canada
The price of gold hit another all-time high of $3,245 per ounce on Monday (14 April 2025), with the precious metal soared from $3,100 to $3,200 in just 11 days.
Prior to that, it took half a month for the price of gold to go from $3,000 an ounce in mid-March to $3,100 an ounce on March 31.
Market participants noted that in addition to hedging against declines in risky assets such as equities, a key factor driving gold prices to sustained record highs could come from China. China’s gold reserves are rising continuously as Trump announced that he would raise U.S. tariffs on Chinese imports to 145 per cent.
Since November 2024, China’s central bank has increased its gold holdings for five consecutive months, with its share of gold reserves steadily closing in on the global average of 15 per cent from 5.5 per cent.
Analysts pointed out that the rapid rise in gold prices is the result of the market’s reaction to the uncertainty of ‘Trump 2.0’. The core driving factor of this round of gold bull market is the central bank gold purchase under the background of ‘de-dollarisation’.
Considering the future of global central bank gold reserves still have room to grow, safe-haven demand for gold prices in the short term did not end, coupled with the possibility of real interest rates are still down, so the logic of rising gold prices still exists.
With the rise in gold prices, Goldman Sachs, Macquarie and other institutions have upgraded their forecasts, that gold prices may hit $3,500 within the year.
According to its latest report, Goldman Sachs has once again lifted its year-end price target for gold — this time to $3,700 an ounce — amid uncertainty surrounding the state of the global economy.
