Gold hits new all-time high, nearing $3,400 per ounce
Gold hits new all-time high, nearing $3,400 per ounce
4-21-2025
Information/Baghdad
Gold rose significantly in early trading on Monday, approaching the $3,400 per ounce barrier, supported by the dollar’s decline to its lowest level in three years and the escalation of fears of an economic recession resulting from the trade war between the United States and its partners.
Spot gold rose 1.6% to $3,382 per ounce by 07:03 GMT, while US futures rose more than 2% to $3,395, according to Reuters data.
This rise came amid a decline in the dollar index, which increased the attractiveness of the precious metal for holders of other currencies, in addition to escalating trade tensions, especially after the return of the Boeing 737 Max aircraft from China to the United States, a move that reflects the escalation of the conflict between the world’s two largest economies.
US President Donald Trump last week ordered an investigation into imposing new tariffs on imports of basic metals, in an attempt to pressure China, a leader in this sector.
Since the beginning of the year, gold has risen more than 27%, considered a safe haven against inflation and economic risks.
Among other precious metals, silver rose 0.1% to $32.63 per ounce, platinum rose 0.2% to $969.20, and palladium fell 0.3% to $959.20.
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