Gold continued its leaps to record prices after the Federal Reserve (the US Central Bank) indicated the possibility of reducing interest rates twice this year, which strengthened the attractiveness of gold amid the continuation of geopolitical and economic crises, and renewed the Israeli bombing of Gaza.
Gold in instant transactions increased to $ 3057.36 an ounce, which is the highest level ever, before settling at $ 3045.34 in the latest transactions.
US gold futures rose 0.34% to $ 3056.20 before their gains shrink, recording $ 3051.50.
Gold brides
The general manager of Heiraus Metals Hong Kong, Dick Bon, said that gold is “in many unconfirmed market conditions, geopolitical tension, poor dollar, and expectations to reduce interest at a later time.”
Yesterday, Wednesday, the US Central kept the main interest rate for one night without changing the range (4.25-4.50%).
But the US Central Policy makers still expect the bank to reduce interest twice, each time by a quarter of a percentage by the end of this year.
Gold, which does not generate returns in the low interest rate environment.
The Federal Reserve Chairman, Jerome Powell, said that the policies of US President Donald Trump, including customs duties, appear to be temporarily pushing the American economy at least towards slower growth and higher inflation.
The customs duties imposed by Trump have aggravated trade tension and are widely seen as inflationary and harmful to economic growth.
The fog associated with customs duties, the possibilities of reducing interest rates, and renewed tension in the Middle East, after Israel resumed air strikes on Gaza, in a golden gains series that recorded 16 standardly high levels since the beginning of 2025 until now, and 4 of which exceeded a barrier of $ 3000 an ounce.
37 Palestinians were killed today, Thursday, in Israeli air strikes on the Gaza Strip after Israel resumed the bombing campaign.
Other precious metals
As for other precious metals, its performance was as follows:
- Silver in immediate transactions fell 0.56% to $ 33.6 an ounce.
- Platinum fell 0.2% to 995.36 dollars.
- Palladium fell 0.42% to 957.7 dollars.
