The gold price reached $4,200.61 at 08:10, marking a 1.38% increase, amidst ongoing global tensions.
One week ago, gold surpassed the $4,000 per ounce threshold for the first time, spurred by the commercial tension between the United States and China, alongside military conflicts in the Middle East and Ukraine. Analysts are predicting it may reach $5,000 next year.
The Federal Reserve Chairman, Jerome Powell, expressed concerns on Tuesday about a potential slowdown in employment in the U.S., describing it as “less dynamic and weaker” partly due to the shutdown of federal institutions.
In its September meeting, the Fed lowered interest rates by a quarter point to between 4% and 4.25%, with potential further reductions anticipated this year. Their next meeting is scheduled for October 28 and 29.
Meanwhile, silver, which also reached a record price of $53.55 on Tuesday, is now at $52.58.
[Updated at 09:25]
