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    Gold Hits Record High of $2,838 per Ounce, Up 56% Since October

    Gold Hits Record High of $2,838 per Ounce, Up 56% Since October

    29 postsEconomicsStocksBusiness

    Gold prices have reached new all-time highs, surpassing $2,800 per ounce, driven by economic uncertainty and increased demand ahead of the Chinese New Year. On January 30, COMEX gold futures rose to $2,838.38 per ounce, while spot gold prices exceeded $2,790, surpassing the previous peak of $2,787.50 set before the U.S. elections. The precious metal has surged 40% over the past 12 months and 56% since October 2023. In China, gold prices hit record levels as younger buyers increased purchases of gold-plated paper and small gold ornaments. Gold prices in Canada also exceeded CAD $4,000 per ounce. The gold ETF GLD reached an all-time high, and the market has experienced few down days in 2025. Analysts attribute the rally to dovish signals from the Federal Reserve and expectations of continued monetary easing. Additionally, the market is facing an unprecedented physical shortage in the London Bullion Market Association (LBMA). The ascent reflects heightened investor interest in safe-haven assets amid ongoing economic uncertainties.

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    What will be the top factor cited by analysts for gold's price movement in Q1 2025?

    What will be the top factor cited by analysts for gold's price movement in Q1 2025?

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    London Bullion Market AssociationFederal ReserveCanadaChinaLBMAChinese New Year

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    Analyst reports and financial news articles

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