US EditionGold prices topped $4,300 this week. What's driving the surge?
- Thursday, New York spot closed at a record $4,326 per troy ounce as gold topped $4,300 for the first time this week.
- For the U.S., the now weekslong government shutdown and trade wars have lifted demand for safe assets as tariffs and import taxes this year strained businesses and consumers.
- Still, gold is up 6.7% over the last week, marking one of its best weekly performances as jewelry merchants and retailers like Pandora and Signet report surging customers checking or selling heirlooms.
- The Associated Press has reported mercury poisoning linked to illegal gold mining in Senegal, Mexico, and Peru, where mercury pollutes water and causes neurological harm to workers and residents.
- Analysts cite U.S. dollar weakness and expected Federal Reserve rate cuts, noting last month’s quarter-point cut and projections of two more this year, amid central banks’ strong gold buying amid geopolitical tensions.
57 Articles
57 Articles
Gold prices soared above $4,300 this week. What’s driving the surge?
As economic uncertainty deepens, the rush for gold continues—with prices for the precious metal topping $4,300 for the first time this week. The going price for New York spot closed at a record $4,326 per troy ounce on Thursday. Futures also traded as high at more than $4,344 per troy ounce Thursday, before falling below the $4,300 mark Friday morning. Still, gold is up significantly over the last week, marking one of its best weeks to date. Gol…
As economic uncertainty increases, the gold rush continues, with the price of precious metal exceeding US$4300 for the first time this week.
Price of gold hit record high this week. Here’s why.
As economic uncertainty deepens, the rush for gold continues — with prices for the precious metal topping $4,300 for the first time this week. The going price for New York spot closed at a record $4,326 per troy ounce on Thursday. Futures also traded as high at more than $4,344 per troy ounce Thursday, before falling below the $4,300 mark Friday morning. Still, gold is up 6.7% over the last week, marking one of its best weeks to date. Gold sales…
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