Gold struggles to surpass 3,000 dollars an ounce despite bullish trends

The recent evolution of gold prices, marked by a steady increase since 2024 and heightened volatility at the beginning of 2025, reflects a market under pressure, influenced by complex macroeconomic and geopolitical factors. 

After reaching a peak of $2,936 per ounce in February 2024, the precious metal is now fluctuating between $2,800 and $2,900, hindering its ascent towards the symbolic threshold of $3,000, anticipated by some analysts by the end of the first quarter of 2025. This movement is fueled by the weakening of the dollar and the decline in U.S. bond yields, which enhance gold's appeal as a safe haven. However, profit-taking has tempered this bullish momentum. 

The future direction of prices will largely depend on monetary policy decisions in the United States. Persistent inflation could force the Federal Reserve to maintain high rates, thereby reducing interest in gold, a non-yielding asset. Investors are therefore closely monitoring upcoming U.S. economic indicators that could influence market expectations. 

In this context, Côte d'Ivoire, which is gradually strengthening its role as a major gold producer in West Africa, could benefit from a continuation of the upward trend in precious metal prices. Ivorian gold production has doubled in less than a decade, rising from 20 tons in 2014 to over 50 tons in 2023. With the commissioning of new mines, notably the 15th industrial mine in Lagué (Dabakala) and recent discoveries in Tanda, Kani, and Dianra, the country is positioning itself as a strategic player in the regional mining sector. 

The current price dynamics could favor an increase in mining revenues, a strengthening of foreign investments, and greater support for local infrastructure and populations. However, price volatility and dependence on international markets necessitate a strategy for sustainable and optimized management of gold resources. 

Source: Ecofin Agency, MEPD Web Portal Editorial Team