WGC Markets Monitor: The Easter Gold Surge

During the past week, it reported mixed economic data amid new export restrictions on China.

SEATTLE (Scrap Monster): The World Gold Council's (WGC) Weekly Markets Monitor report states that during the last week, gold prices surpassed $3,300 per ounce for the first time ever.

The LBMA Gold Price PM saw a 2.3% increase over the previous week, closing the week at US$3,305.7 per ounce. The commodity's prices have risen 26.7% so far in 2025, outpacing those of other major asset groups.

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Lower rates and the ongoing decline of the US dollar helped to sustain the robust increase in gold prices. The weekly spike in gold prices was also influenced by the continued uncertainty surrounding trade policy and the decline in investor confidence in U.S. assets. According to the WGC study, a further decline in the dollar should push gold prices to the next significant resistance level, which is US$3,400 per ounce.

WGC stated that investors will probably continue to pay close attention to Trump's trade policy in its outlook for the coming week and beyond. In the midst of fresh export restrictions on China, it released conflicting GDP figures during the last week.

Any progress in talks with partners may see gold losing its appeal in the short term. However, it is anticipated that rising tariff trade conflicts will result in increased costs.

In the meanwhile, declining trust in American assets is probably going to help gold's reputation as a safe haven.

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