Price surge driven by global political uncertainty and concerns over U.S. monetary policy
The price of gold on global markets has exceeded $3,500 per ounce for the first time in history. This was reported by WNTab on Tuesday, April 22, citing data from stock exchanges.
Specifically, the precious metal briefly reached $3,500.05 before retreating to $3,452.15. In percentage terms, the price rose by 0.8%. The next expected psychological benchmark is $3,600.
Alongside gold, the prices of platinum and palladium also increased, while silver saw a slight decline.
According to analysts, the surge in value is being driven by prolonged geopolitical instability around the world. In addition, recent criticism by Donald Trump of Federal Reserve Chairman Jerome Powell has raised concerns among investors about the future of U.S. monetary policy. Amid these developments, the U.S. dollar has slightly weakened (especially against the euro), while the value of the most stable asset—gold—has predictably risen.
Earlier, WNTab reported that the U.S. had lifted elevated trade tariffs on Chinese electronics.
A bit earlier, Asian markets experienced a significant crash.
