Gold price exceeds $3800 per ounce for the first time, setting a historical record

On September 29, the price of gold in global markets reached a historical high, surpassing the $3800 mark per ounce for the first time. This increase was a response to expectations of a decrease in interest rates in the United States, as well as concerns about a potential government shutdown. Under these circumstances, investors are actively seeking safe assets, which boosts demand for precious metals amid heightened geopolitical uncertainty.

This is reported by AgroReview

Price dynamics of gold and other precious metals

As of 11:47 GMT, the spot price of gold rose by 1.7% to $3824.52 per ounce. During the previous trading session, a high of $3829.13 was recorded. December futures also increased by 1.2%, reaching $3853.7 per ounce.

“At UBS, they expect gold prices may rise even further — to $3900 per ounce in the coming months.”

Throughout 2025, the price of gold has already jumped by 45%. The main factors behind this increase have been active purchases by central banks, a weakening U.S. dollar, and strong interest from institutional and private investors.

Increase in the value of silver, platinum, and palladium

Amid the overall demand for precious metals, prices for other assets are also rising. Silver has increased by 2.1% to $46.95 per ounce, marking the highest level in the last 14 years. Platinum shows a rise of 1.7% to $1595.35 (the highest in 12 years), while palladium has increased by 0.7%, reaching $1279.46 per ounce.

Thus, precious metals remain key instruments for capital preservation during economic turbulence, and analysts predict further increases in their value in the coming months.