The rise in prices for the precious metal is observed amid uncertainty about the impact of US President Donald Trump’s policies on the economy.
April gold futures on the Chicago Mercantile Exchange (CME) as of 10:37 Moscow time rose by 1.26%, to $2,973 per troy ounce. The price of gold has once again updated its historical maximum. The previous record was set on February 11, 2025, when at its peak the precious metal rose to $2,968.5 per ounce amid US President Donald Trump’s threat to introduce new duties.
The gold market is supported by the same factors as last year: uncertainty about the impact of US President Donald Trump’s policies on the global economy and international relations, CNBC writes.
In recent months, central bank demand for the precious metal has been a key driver of prices as they seek to diversify foreign exchange reserves and protect against currency fluctuations, UBS said.
Gold prices could continue to rally in 2025 as factors including geopolitical instability, central bank demand and concerns about shortages of the precious metal push prices higher, analysts said.
