According to data at 04:09 Moscow time, the price of the metal increased by 1.60%, reaching $2950.3. By 04:12 Moscow time, the growth continued, and the price rose to $2953.8, and by 04:17 Moscow time it stabilized at $2953.2. At 12:10 Moscow time, the price of gold was $2935.51. This record high was the result of a 63% increase from the low of $1,809.50 recorded on October 23, 2023.
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According to experts, the rise in gold prices was due to a number of key factors. Firstly, geopolitical tensions, including conflicts in Ukraine and the Middle East, have pushed investors to seek a "safe haven" in the form of gold. Secondly, central banks around the world have been actively increasing their gold reserves for the third year in a row, purchasing more than 1,000 tons of metal.
An additional incentive for growth was the decision of US President Donald Trump to impose 25% duties on steel and aluminum from all countries. This has increased investors' concerns about trade wars and inflation, which has pushed them to buy safe assets such as gold.
The record rise in gold prices underscores its role as a key asset in the face of global instability. Investors continue to look for safe instruments to protect their capital, which makes gold one of the most sought-after assets on global markets.
