English

Gold prices jumped to a record high

The global gold price surged nearly $2 million, back to a record high of $121.3 million," Logos Press reported, citing Finnam.
Reading time: 1 minute Autor:
Link copied
Gold prices jumped to a record high

Gold is once again in demand from investors: its price reached $3343 per ounce. It rose in price for the fourth day in a row, as investors opposed US President Donald Trump’s plan to cut taxes and the growing budget deficit. As a result, the long-term yield on US Treasury bonds reached almost the highest level in the last twenty years.

Investors’ fears were confirmed by a historically weak auction of 20-year bonds worth $16 billion.

According to analysts, the price of gold is also rising on the back of a weakening dollar and a possible increase in geopolitical risks around the Middle East

Thus, starting from Wednesday, May 21, the price of June gold futures on the New York Comex exchange rose by $19.21 against the previous close, or 0.58% – to $3,303.81 per troy ounce. July silver futures rose by 0.35% to $33.29 per ounce.

The dollar index (the rate against a basket of currencies of six countries – trading partners of the United States) fell by 0.43% – to 99.6 points. Weakening dollar increases demand for gold from holders of other foreign currencies.

The demand for gold as a “safe haven asset” also grows in case of macroeconomic instability or increased geopolitical risks in the world.


Реклама недоступна
Must Read*
Global Economy
25 June 2025
Pro Business
25 June 2025
Agribusiness & Winemaking
25 June 2025
Global Economy
25 June 2025
Economy & Law
25 June 2025

We always appreciate your feedback!

Read also
Changing visa rules in the EU may affect Moldova
European Integration
20 June 2025
Changing visa rules in the EU may affect Moldova
How to transfer money from Russia to Moldova
Banks & Finance
24 June 2025
How to transfer money from Russia to Moldova
Citizens invest in SS
Banks & Finance
22 June 2025
Citizens invest in SS