Gold is going up primarily due to a combination of economic uncertainty, geopolitical tensions, central bank buying, a weakening U.S. dollar, and inflation concerns. Since 2024, rising global uncertainty—especially related to conflicts such as in Ukraine and the Middle East—has driven investors and central banks to buy gold as a safe-haven asset. Central banks in countries like Russia, China, India, and Turkey are increasing their gold reserves to diversify away from the dollar amid fears of currency weaponization. Inflation expectations and tariff-related tensions in the U.S. have also contributed to gold's appeal as a hedge, despite high interest rates. Additionally, gold benefits when the U.S. dollar weakens, making it cheaper for foreign buyers. This multifaceted demand has pushed gold prices to historic highs in 2025, with forecasts suggesting the upward trend may continue.