Gold Price Surges to Record High on Global Demand and Uncertainty
Gold prices surged to a record high on Monday, driven by strategic purchases from countries like China and India, and global economic uncertainties. The precious metal reached 3,945 US dollars per ounce, its highest level ever, following a 50 percent increase so far this year.
The gold price has been on a steady rise, up by 1.1 percent on Monday alone, following a 3 percent increase the previous week. This upward trend is the strongest annual increase since 1979. As of Monday, the price stood at 3,970.95 $/oz.
Geopolitical risks and trade policies have contributed significantly to this three-year bull run, with the gold price rising by over 130 percent. The US budget crisis and government shutdowns have also played a role. The longest shutdown, lasting 35 days, occurred during Donald Trump's first term from 2018 to 2019. Notably, the last shutdown in 2013 also lasted 35 days.
Other markets have also seen significant gains. Bitcoin has risen by slightly more than 30 percent since the end of 2024, while the Dax has increased by around 22 percent in the same period.
Gold's record-breaking rally continues, fueled by strategic purchases and global economic uncertainties. With the US budget crisis and government shutdowns driving the price, investors are seeking the safety and stability that gold offers. As the year progresses, all eyes will be on whether this upward trend continues.
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