Gold just hit a new record high above $3,500. Investors continue to search for safe-haven assets in an uncertain market.
At last trade, gold stood at $3,536.83. Many analysts believe the metal could soon test $4,000. Several forces are pushing gold higher.
What’s Driving Gold Higher
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Tariff Ruling: A U.S. appeals court ruled that former President Trump’s global tariffs are illegal. However, the court allowed tariffs to remain in place until October 14, giving Trump time to appeal to the Supreme Court.
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Federal Reserve Outlook: A possible interest rate cut in September is also boosting gold. Lower rates often weaken the dollar and make commodities more attractive.
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ETF Demand: Gold ETF inflows reached 170 tonnes in Q2 2025. Combined with Q1, this marks the strongest half-year inflow since 2020.
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Macro Drivers: Geopolitical tensions, central bank demand, and a weaker U.S. dollar are adding further fuel to the rally.
Therefore, analysts at Fidelity, Goldman Sachs, and Bank of America now see gold climbing to $4,000 by 2026. Some even believe the metal could reach that level by next year.
A Stock Play on Gold: Barrick Mining (B)
One way to benefit from gold’s rise is through mining stocks. Barrick Mining (B) recently received an upgrade to Outperform from analysts at CIBC. Their price target is $30, reflecting stronger results and a brighter outlook.
In addition, Barrick raised its dividend to $0.15 per share. The dividend will be paid on September 15 to shareholders of record as of August 29.
Bottom Line
Gold continues to set new records. As a result, companies like Barrick Mining could offer leveraged exposure to this powerful trend. With improving fundamentals, higher dividends, and analyst upgrades, the stock may benefit further if gold reaches new highs.
📌 Educational use only. Not investment advice. Trading and investing involve risk and may not be suitable for all investors. Past performance is not indicative of future results.