On April 22, 2025, spot gold reached a record high, trading around $3,473.03 per ounce. The surge was fueled by economic uncertainty, geopolitical tensions, and concerns arising from U.S. President Trump's criticism of the Federal Reserve.
The weakening US dollar and escalating trade tensions between the US and China have further amplified gold's appeal as a safe-haven asset for investors worldwide. Asian stock markets experienced turbulence, and China has accused Washington of abusing tariffs, contributing to increased economic tensions.
Analysts anticipate that sustained economic uncertainty will continue to bolster gold demand, despite potential pullbacks. Market participants are closely monitoring speeches from Fed officials for further insights into future monetary policy. Other precious metals also saw price fluctuations, with spot silver at $32.57 an ounce, platinum at $964.78, and palladium at $939.50.