Gold Price Reaches New High
The price of gold reached a new peak on Tuesday, surpassing the previous record set in April last year. In the morning, the price of an ounce exceeded $3,526, representing a 34% increase since the beginning of the year.
Analysts attribute this surge to the current weakness of the US dollar and expectations of a decrease in the main interest rate in the United States this month.
Political Tensions and Economic Uncertainty
Investors and traders are also concerned about the tensions between the administration of US President Donald Trump and Federal Reserve President Jerome Powell. Trump is considering firing Powell after the latter criticized the president's tariff policy and ignored his requests to lower interest rates.
Observers consider this situation a threat to the independence of the Federal Reserve, which is causing concern.
Rise Extends to Silver and Expected to Continue
The price of silver also reached a record level on Tuesday, at $40.8 per ounce, its highest level in 14 years.
Goldman Sachs analysts predict that the price of gold will continue to rise to reach $4,000 by the middle of next year.
This trend is part of a context where the price of gold has almost doubled since the beginning of 2023. Many central banks, including those in India, China, Turkey, and Poland, are seeking to increase their reserves, making them major gold buyers.
