AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.
5/5/2025:A global shift in the gold market
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Greetings!
In my 45 years as a gold market professional, I have never seen anything like what we all saw between April 9 and 23. Gold surged by a stunning $519 in two weeks, establishing a series of new all-time highs and reaching $3,509 in the COMEX futures market for June delivery. In four different sessions, gold jumped $75 to $100 higher in single day!
It is crucial to understand that these incredible leaps were not in New York trading sessions, where the leveraged COMEX market has dominated the gold price since the early 1990s. These price moves were in the overnight markets, primarily in Asia, where physical demand dominates the gold price. In other words, they were driven by China.
In this AGE Gold Commentary for May 5, I will explain the extraordinary changes afoot in determining the global value of gold, and the immense impact these changes are likely to have on the gold price. I'll analyze China's specific motivations for so much gold-buying during this short period. And finally, I'll outline how this major shift in market dynamics could alter the true price of gold for decades to come.
So please join me for this timely and important discussion.
You can also view this video on the AGE YouTube channel, which includes a transcript.
AGE's Gold Commentary
AGE Gold Commentary is our regular report analyzing trends in precious metals and rare coins. We monitor domestic and international markets and extrapolate from our 30 years in metals to place current events into a hard asset perspective. View archives.
5/5/2025: A global shift in the gold market
Source:
Greetings!
In my 45 years as a gold market professional, I have never seen anything like what we all saw between April 9 and 23. Gold surged by a stunning $519 in two weeks, establishing a series of new all-time highs and reaching $3,509 in the COMEX futures market for June delivery. In four different sessions, gold jumped $75 to $100 higher in single day!
It is crucial to understand that these incredible leaps were not in New York trading sessions, where the leveraged COMEX market has dominated the gold price since the early 1990s. These price moves were in the overnight markets, primarily in Asia, where physical demand dominates the gold price. In other words, they were driven by China.
In this AGE Gold Commentary for May 5, I will explain the extraordinary changes afoot in determining the global value of gold, and the immense impact these changes are likely to have on the gold price. I'll analyze China's specific motivations for so much gold-buying during this short period. And finally, I'll outline how this major shift in market dynamics could alter the true price of gold for decades to come.
So please join me for this timely and important discussion.
You can also view this video on the AGE YouTube channel, which includes a transcript.
Sincerely,
Dana Samuelson
President