Gold continues to demonstrate high stability in global markets, remaining one of the most profitable commodity assets this year. Today, trading is occurring at around $3,761 per ounce, which is approximately $30 less than the recent price peak. The cost of one gram of gold is $121.32.
This is reported by Finway
Factors Influencing Price Dynamics
The last few days have seen a slight price correction following a period of gradual increase. Investors are closely monitoring signals from the U.S. Federal Reserve. On September 23, Fed Chair Jerome Powell emphasized the risks that remain for the labor market and inflation, and he did not provide any hints about a possible rate cut in October. At the same time, Michelle Bowman noted that if the labor market continues to weaken, the Federal Reserve will likely have to ease monetary policy in the coming months.
“Gold and silver have been among the most successful commodity assets this year due to a combination of several favorable factors, including last week’s Fed rate cuts and sustained demand from central banks.”
Demand for Precious Metals and Geopolitical Influence
Gold and silver maintain their leading positions among commodity assets, which is linked to a combination of several important factors. In particular, following the recent Fed rate cut and consistent demand from leading central banks, demand for precious metals remains high. Moreover, on September 19, the volume of investments in gold-focused exchange-traded funds reached a three-year record high.
Geopolitical tensions also continue to influence market dynamics. U.S. President Donald Trump urged NATO countries to respond decisively to violations of their airspace by Russian aircraft. At the same time, he expressed cautious optimism regarding Ukraine’s prospects in the war with Russia.
In the precious metals market, spot gold at 8:16 AM Singapore time was at $3,760.70 per ounce. Silver stabilized after its price exceeded $44 per ounce on September 23. Platinum remained nearly unchanged, while palladium slightly decreased in price.