I nvestors who expected the price of gold to moderate in 2025 may have to rethink their predictions. Despite the price of the precious metal dipping from a record high in October

India's gold imports are set to tumble 85% in February from year ago levels to their lowest in 20 years, with demand sapped by record prices for the precious metal, a government official and three bank dealers told Reuters.

The price of gold has been bursting through records in the first month of Mr. Trump’s second term, recently trading at more than $2,900 per troy ounce. It is up about 12 percent already this year, on top of a 27 percent gain last year. Many strategists are upgrading their forecasts, predicting more gains ahead.

Experts say there are indicators that gold's strong performance will continue, though fluctuations are possible.

Gold prices surged to a record high on Thursday, as fears of a global trade war sparked by U.S. President Donald Trump's tariff threats fueled safe-haven demand for the precious metal.

Locally, gold saw an upward trend in Pakistan's jewellery markets, with the price per tola rising by Rs1,500 on Monday, pushing the new rate to Rs309,500.

The gold price has surged to a new all-time high above US$2,900 (A$4,544) an ounce this month. It has risen by 12% since the start of the year and clearly outperformed US and Australian stock markets.