Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Investing

Gold Price Hits New Record, Breaking US$3,300 for First Time

by admin April 18, 2025
April 18, 2025
Gold Price Hits New Record, Breaking US$3,300 for First Time

The gold price reached yet another record high on Wednesday (April 16), breaking US$3,300 per ounce.

The precious metal has gained significant momentum since the beginning of the year. In trading on Wednesday it surged past the US$3,200 mark, climbing as high as US$3,354.10 per ounce. The price retreated below the US$3,300 mark on Thursday (April 17).

The rise comes after statements from US Federal Reserve Chairman Jerome Powell made at the Economic Club of Chicago on Wednesday. In his remarks, he said that he expects US President Donald Trump’s tariff policy to negatively impact US economic growth and further fuel inflation.

In addition to gold climbing to record highs, the US dollar sank to its lowest point in three years with the DXY dollar index falling to 99.3 points on Thursday.

Gold price chart, April 10, 2025, to April 17, 2025.

Gold prices have soared in recent weeks amidst the chaos caused by Donald Trump’s tariff announcements on April 2.

Those measures included a 10 percent tariff on all but a handful of countries, including Canada and Mexico, with more severe reciprocal tariffs to come into effect this week. However, on April 9, Trump announced he would pause the additional tariffs for 90 days, saying more than 70 countries had contacted him to make deals.

Trump may have also been feeling pressure from economic advisors as a surge in treasury yields signaled a potential economic crisis brewing in the US bond market. Normally a safe haven during market volatility, the bond market saw a significant selloff this week as US tariffs and worries about the US economy’s stability spooked traders.

Although the pause gave most countries some breathing room, tariffs against China were left on the table. After much back and forth, US tariffs levied against China have now increased to 145 percent.

The net effect of Trump’s actions has been political and financial turmoil, sparking selloffs in major stock markets and pushing prices for safe-haven assets like gold to fresh records.

Additionally, China, Japan and South Korea agreed on March 30 to seek deeper free trade ties in response to the threat of tariffs from the US government. The deal marks a significant move by the three countries following decades of US diplomacy to maintain close relationships with Japan and South Korea.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Keep reading…Show less

This post appeared first on investingnews.com

previous post
Westport Announces Annual General and Special Meeting and Timing of Q1 2025 Financial Results
next post
Element79 Gold Corp. Provides Update on Chachas General Assembly

Related Posts

Lithium Universe LtdMOU Signed with Lafarge Canada Inc.

February 10, 2025

Crypto Market Recap: $TRUMP Token Rebounds as President...

April 25, 2025

Gold Price Hits New Record, Breaking US$3,000 for...

March 15, 2025

$2.85m Placement in Conjunction with 815Koz AuEq Acquisition

April 14, 2025

Editor’s Picks: Gold Price Touches US$3,500 in Volatile...

April 27, 2025

Deep-Sea Crisis: Can the ISA Regain Control of...

May 3, 2025

Rick Rule: Where I See 10+ Bagger Potential,...

March 9, 2025

American Rare Earths: Advancing One of the Largest...

February 14, 2025

Electric Royalties: Royalty Company Focused on Clean Energy...

March 4, 2025

Crypto Market Recap: Senator Cruz Supports Bitcoin Mining...

April 3, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • India and Pakistan are both claiming victory after this week’s clashes. Will cooler heads prevail?

      May 9, 2025
    • UK’s King Charles lays wreath to mark 80th anniversary of VE Day

      May 9, 2025
    • Israeli military extends detention of Palestinian journalist despite acknowledging lack of evidence

      May 9, 2025
    • Israel vows to ‘defend ourselves alone’ after Trump strikes truce with Houthis

      May 9, 2025
    • This company’s edible skincare products are full of ‘raw Ghanaian goodness’

      May 9, 2025
    • Robert Prevost elected as first American pope and takes the name Leo XIV

      May 9, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved