Gold prices exceeded $3,500 per ounce in April 2025, driven by increased demand from central banks and a rise in gold ETF holdings. By the end of June, prices stabilized near $3,300. U.S. Federal Reserve policies, geopolitical tensions, and the implementation of Basel III—which classified gold as a high-quality Tier 1 asset—all contributed to strengthening gold’s role as a safe haven. These developments reflect a structural shift in the market and provide investors with clear indicators for the second half of the year.