Since the beginning of the year, the price of investment gold has risen by 18%, closely followed by global investment funds increasing their price forecasts to as much as $3,300 per ounce by the year's end.

On March 31, the price of gold breached the $3,100 per ounce threshold, driven by concerns over tariff impacts from U.S. President Donald Trump and potential economic repercussions that sparked a renewed wave of investment in gold.

During morning trading sessions, the global gold price hit a record of $3,126 per ounce, building on previous records set just a week prior.

Gold futures on the New York Stock Exchange similarly experienced a rise of 1.4%, reaching $3,160.70 per ounce.

This latest surge marks a significant year-to-date increase, driven by investors seeking to hedge against economic instability, geopolitical tensions, and inflation during Trump’s second term.

Earlier this month, gold's value surpassed $3,000 per ounce for the first time, reflecting its position as a safe investment in tumultuous times.

Demand for investment gold in Serbia has surged irrespective of price, with a remarkable doubling in purchases over the past year.

According to data from the Serbian Statistical Office, gold imports surged to over €110 million last year, marking a 13-fold increase compared to five years ago.

Economic analysts highlight that uncertainty and demand are major price drivers in commodity markets.

The London Bullion Market Association has projected that gold prices, currently at $3,126 per fine ounce, could rise to $7,000 over the next five years.

Financial consultant Vladimir Vasić asserts that this moment might be optimal for patient investors to engage with gold, noting its average annual return of about 10%.

The demand for gold bars has reflected an eightfold increase compared to a decade ago, rising from €99,000 ten years ago to €803,000 last year.

From February 2022 to February 2025, demand for investment gold in Serbia has reportedly multiplied multiple times.

Geopolitical shifts, particularly the ongoing conflict in Ukraine, have directly influenced market behavior, with demand spiking nearly 500% immediately following the war's onset in early 2022.

The demographic of Serbian gold investors is diverse, with two primary groups emerging: older investors with substantial savings and a growing number of young professionals, particularly in the IT sector.

Many seasoned investors have developed skills in market monitoring, purchasing sizable quantities of gold, while others opt for regular purchases through monthly savings plans.

Notably, the Dukat Franc Jozefa and the Tavex one-gram gold bars remain popular among consumers.

While Serbia's gold market is experiencing growth, it remains small compared to global leaders such as China, the United States, India, Germany, and Switzerland.

In China, gold investment has become a regular practice, with polishes and coins available at banks and through gold vending machines.

German and Swiss cultures heavily emphasize long-term savings and the value of gold as a financial asset, shaped by historical episodes of hyperinflation.

Switzerland's central bank possesses 3.8 ounces of gold per capita, significantly more than the U.S. average, reflecting a cultural propensity for cautious investment and wealth preservation.