Gold Price Reaches Record Level of $3,245 per Ounce

This year, the price of gold has reached a new record, rising by more than 20%. The metal hit its peak value on Monday, April 14, when it was priced at $3,245 per ounce, surpassing the previous record set on April 11.

This is reported by AgroReview

Markets reacted to the decision by U.S. President Donald Trump, which contributed to the increase in the value of the precious metal. Last week, gold rose by more than 6%, driven by the ongoing decline of the dollar. The weakening of the American currency makes gold more accessible to foreign investors, as its price is quoted in dollars.

The increase in gold prices is also linked to investors opting for safe assets amid the volatility of Trump’s trade policies, which have caused sharp fluctuations in American stock markets, bonds, and the dollar exchange rate, heightening fears of a global recession. In particular, the sell-off of U.S. government bonds indicates a decrease in the attractiveness of American assets.

In Singapore, the spot price of gold remained at $3,236.27 per ounce, while the price of silver decreased, and platinum and palladium showed positive growth trends.