Tuesday 14/October/2025 – 09:23 AM
Gold prices rose to a new record high on Tuesday, amid renewed trade tension between the United States and China, which increased uncertainty and boosted safe-haven demand, while expectations of a cut in US interest rates also supported prices.
Gold in spot transactions increased 1.31% to $4,164.23 per ounce by 04:46 GMT, after hitting a record level near $4,170 earlier in the session, and US gold futures for December delivery rose 1.02% to $4,175.20.
Gold, which is considered a safe haven, jumped 57% since the beginning of the year and exceeded the level of $4,100 for the first time, yesterday, Monday, supported by geopolitical and economic concerns, expectations of lowering interest rates, central banks purchasing large quantities of the yellow metal, and flows of exchange-traded funds, according to Reuters.
Gold prices globally today, Tuesday
Silver rose in spot transactions 0.3% to $52.49 per ounce, after recording $52.70 earlier in the day. US Treasury Secretary Scott Besent said yesterday, Monday, that President Donald Trump still intends to meet his Chinese counterpart, Xi Jinping, in South Korea in late October.
This tension in relations came after China announced on Thursday the expansion of restrictions imposed on the export of rare earth materials, prompting Trump to threaten to impose 100% customs duties on Chinese imports and impose controls on the export of important American software starting from the first of November.
Picent pointed out that the ongoing federal government shutdown, which has now entered its thirteenth day, has begun to affect the country’s economy, and analysts at Bank of America and Société Générale expect gold to reach $5,000 by 2026, while Standard Chartered Bank raised its average forecast for 2026 to $4,488.
Investors still expect a 25 basis point interest rate cut at the US Reserve’s meeting this month, followed by a similar cut in December.
As for other precious metals, platinum rose 0.5% to $1,653.45 per ounce, while palladium gained 1.6% to $1,498.25, recording the highest level since May 2023.
