On Wednesday (April 16), the price of gold reached another record high so far, which broke the US $ 3,300 an ounce.
Precious metal has gained significant speed from the beginning of the year. In trading on Wednesday, it moved beyond a US $ 3,200 mark, which climbed as the US $ 3,354.10 an ounce. The price went below the US $ 3,300 mark on Thursday (April 17).
The growth occurred on Wednesday following the statements of Jerome Powell, president of the US Federal Reserve at The Economic Club of Chicago. In his comment, he said he hoped US President Donald Trump’s tariff policy negatively affected the US economic development and further fuel inflation.
In addition to gold climbing to high records, the US dollar drowned at its lowest point in three years with the DXY dollar index on Thursday.
Gold price chart through investment news network.
Gold price chart, 10 April, 2025, On April 17, 2025.
Gold prices have increased in recent weeks amid the chaos caused by tariff announcements of Donald Trump on 2 April.
Those measures included 10 percent tariffs on all, but in a handful of countries including Canada and Mexico, this week with more severe mutual tariffs. However, on 9 April, Trump announced that he would stop additional tariffs for 90 days, stating that more than 70 countries had approached him to deal.
Trump is also feeling pressure from economic advisors as an increase in treasury yields indicated a possible economic crisis in the US bond market. Generally a safe shelter during market volatility, Bond Market saw a significant sales this week as American tariffs and American economy worry about stability.
Although this stagnation gave most countries some breathing rooms, tariffs against China were left on the table. After far and back, the American tariffs against China have now increased to 145 percent.
Trump’s functions have been pure effects political and financial upheaval, promoting sales in major stock markets and taking forward prices for safe-hevan assets for new records for gold.
Additionally, China, Japan and South Korea agreed on March 30 to seek deep free trade relations in response to the tariff’s threat from the US government. The deal is an important step by three countries after decades of American diplomacy to maintain close relations with Japan and South Korea.
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Securities disclosure: I, Dean Belder, is not interested in any company mentioned in this article.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
