[Due to Trump, the price of gold hits a new historical high]
Bloomberg reported that on Monday, April 14, the price of gold hit a new historical high of $3245 per ounce, breaking the previous record set on April 11.
Last week, the price of gold rose more than 6%, with the continuous depreciation of the US dollar driving this increase. The depreciation of the US dollar made gold cheaper for foreign investors since the price of gold is determined in US dollars.
This year, the price of this precious metal has risen more than 20%, as investors choose safer investment options. Trump's rapidly changing trade policies, against the backdrop of concerns about a global economic recession, have caused significant fluctuations in the US stock market, bonds, and the US dollar. In particular, the sale of US Treasury bonds highlighted the declining attractiveness of US assets.
In Singapore, the spot price of gold remained relatively unchanged at $3236.27 per ounce. Meanwhile, the price of silver fell, while platinum and palladium prices rose.
By late summer 2025, the price of gold may fluctuate between $2990 and $3250 per ounce. By then, central banks will remain a key driver of the rise in gold prices.
However, over time, due to falling demand, the high price of gold will cool investor interest to some extent and lead to a decline in prices.
Original article: https://www.toutiao.com/article/1829374625309776/
Disclaimer: This article solely represents the author's personal views.