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Gold soared above $3,650 and reached a new all-time high

Economy: Gold soared above $3,650 and reached a new all-time high

Today, gold hit a new all-time high, going over $3,650 per ounce. According to Reuters, the spot price hit $3,651.96, while The Guardian says it was $3,659.10. So, gold has firmly settled at record levels, continuing the rally of recent months.

The increase in value is primarily due to expectations of an imminent interest rate cut by the #US Federal Reserve. Against the backdrop of weak macroeconomic data — a slowdown in employment growth and an increase in unemployment to 4.3% — investors have increased their bets on a more accommodative monetary policy. This has led to a weakening of the dollar and a fall in bond yields, which traditionally increases the attractiveness of gold as a safe-haven asset.

Gold soared above $3,650 and reached a new all-time high
Spot market gold price chart in US dollars

An additional factor is the escalation of geopolitical and economic uncertainty. Against this backdrop, investors are actively withdrawing capital from risky instruments and moving it to “safe havens.” Major banks, including #Goldman Sachs and #JPMorgan, have already announced a possible further rise in prices to $3,700–4,000 in the coming months.

Thus, gold is cementing its status as a key indicator of global anxiety. Record highs underscore that the global economy is in a state of instability and demand for safe-haven assets continues to grow.

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