Gold prices continue their record growth, and on April 22 this year the metal overcame an important psychological mark, reaching the price of $ 3,500 for an ounce. This happened against the background of economic uncertainty and investment interest in safe assets, such as gold, against the background of sharp criticism of US President Donald Trump to the head of the Federal Reserve (Fed) by Jerome Pavel.
Gold reached a record $ 3495 for an ounce in a spot market, which is 1.93% per day. June futures for gold also increased by 2.17%, reaching $ 3509. It is noted that this year gold has risen by 33%, which is a significant increase and indicates a high demand for this asset in times of economic instability.
Experts say that the rise in gold prices is partially caused by economic fears concerning the future exchange rates and trade relations. Investors turn to gold, which is considered a reliable asset, in times of uncertainty, when there is doubt about the stability of the dollar and other assets.
"Investors avoid US assets against the backdrop of tariff fears and situations around Trump and Pavella, which heats up rally in the backdrop of increasing dollar problems," said Tim Waterer, chief market analyst in KCM Trade.
This growth of gold value also testifies to a broad economic trend, where traditionally stable assets, such as gold, gain popularity against the backdrop of political and economic troubles observed in the world market.