On September 29, the price of gold surpassed the psychological barrier of $3800 per troy ounce for the first time in history, setting a new absolute record in global markets.
This is reported by Finway
Price Increase Amid Economic Uncertainty
The significant rise in gold’s value is linked to investor expectations regarding a possible reduction in the Federal Reserve’s interest rate and concerns about a potential government shutdown in the United States. These factors have greatly increased demand for safe assets, especially in the context of heightened geopolitical instability around the world.
As of 11:47 GMT, the spot price of gold rose by 1.7% to reach $3824.52. During the previous trading session, an even higher figure was recorded — $3829.13 per ounce, while December futures increased by 1.2% to $3853.70.
UBS expects that gold may rise even further — to $3900 per ounce in the coming months.
Trends in Other Precious Metals
The price of gold in 2025 has already increased by 45%. This is due to active purchases of gold by central banks in various countries, the weakening of the US dollar, and consistently high demand among private investors.
At the same time, other precious metals are also becoming more expensive. The spot price of silver rose by 2.1% — to $46.95, marking the highest level in the last 14 years. Platinum increased by 1.7% — to $1595.35, reaching a 12-year high. Palladium also showed growth, rising by 0.7% — to $1279.46 per ounce.