Gold Price Hits New All-Time High

The price of gold has reached a new historical high, Bloomberg reported. 

As of 1:49 p.m. in Singapore (7:49 a.m. in Kyiv), spot gold rose 1.5% to $4,404.12 per ounce, surpassing the previous record of $4,381 per ounce set in October.

Among the reasons for the rise, the media cites traders' expectations that the US Federal Reserve will cut interest rates in half in 2026 after a series of economic data last week.

In addition, the geopolitical tensions between the United States and Venezuela, as well as ukraine's first attack the attack on the Russian oil tanker in the Mediterranean Sea strengthened the positions of gold and silver.

According to Bloomberg, gold and silver are headed for their strongest annual gains since 1979.

"Today's gains are largely driven by early positioning around expectations of a Fed rate cut, exacerbated by low liquidity at year-end," said Pepperstone Group Ltd. Dilin Wu.

Prices for other precious metals also rose. In particular, silver rose by 3.4% to reach a record high of just under $70 per ounce, while palladium rose by 5%. Platinum traded above $2000 for the first time since 2008.

• on October 8, the price of gold for the first time in history exceeded $4000 per ounce. Its value has increased by more than 50% since the beginning of the year.
• october 14, the price of silver set a new historical record, exceeding $53 per ounce in London trading.
• october 21, gold and silver sharply lost in value. The drop was attributed to several factors: a stronger dollar, signals of a possible resumption of trade talks between the US and China, and a technically overheated market.