Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Gold Prices Hit All-Time High Amid Geopolitical Tensions and Fed Policy Optimism

Daniel Kim Views  

Amid rising geopolitical tensions in the Middle East and expectations that the Federal Reserve may adopt a more relaxed monetary policy this year, gold prices have soared to a new all-time high. On the 20th, bullion prices rose 1.4% in Asia, hitting $2450.07 per ounce and surpassing the previous intra-day record set in April.

Last Wednesday’s data revealed that the U.S. dollar weakened, and bonds rebounded following an April inflation report that was more subdued than anticipated.

Hedge funds trading COMEX futures have increased their gold-buying positions to a three-week high last week. This activity indicates that gold has emerged from a relatively narrow trading range over the past few weeks amid ongoing uncertainty regarding the U.S. interest rate trajectory. So far this year, gold prices have climbed nearly 20%, fueled by a robust rally that broke records throughout April.

The strength in gold is related to central bank purchases, robust demand in Asian markets, especially in China, and escalating geopolitical tensions in Ukraine and the Middle East.

Following this, gold drew attention on Monday after a helicopter carrying Iranian President Ebrahim Raisi crashed in thick fog on Sunday.

In Singapore, spot gold rose 1.4% to a record $2449.27 per ounce. Silver, palladium, and platinum all rose.

Silver reached its highest level since December 2012 following a strong rally on Friday, driven by the broader physical metals market’s impact on investor demand for materials such as copper.

On the other hand, the Bloomberg Dollar Spot Index was flat, following a 0.7% drop last week, marking its weakest level in over a month.

 

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    How Many Times Can You REALLY Reuse a Towel? The Answer May Gross You Out

    LIFESTYLE 

  • 2
    Struggling to Wake Up? It’s Not Laziness—It’s Science

    LIFESTYLE 

  • 3
    Stevia vs. Agave: Which Sweetener Is Actually Better for You?

    LIFESTYLE 

  • 4
    Clocking 52+ Hours a Week? Your Brain May Be Paying the Price

    LIFESTYLE 

  • 5
    Why Age 6 Is a Critical Year for Childhood Obesity Risk

    LIFESTYLE 

Popular Now

  • 1
    Too Much Sitting May Raise Risk of Alzheimer’s, Even If You Exercise, Study Finds

    LIFESTYLE 

  • 2
    Got a Family History of Rare Dementia? This Gene Might Protect You

    LIFESTYLE 

  • 3
    Experts Say Tea, Apples, and Cocoa Might Be the Secret to Lower BP

    LIFESTYLE 

  • 4
    Living Near a Golf Course? Your Risk for Parkinson’s Might Be Higher

    LIFESTYLE 

  • 5
    Prunes: The Underrated Superfruit Your Cardiologist Might Approve Of

    LIFESTYLE 

Must-Reads

  • 1
    How Many Times Can You REALLY Reuse a Towel? The Answer May Gross You Out

    LIFESTYLE 

  • 2
    Struggling to Wake Up? It’s Not Laziness—It’s Science

    LIFESTYLE 

  • 3
    Stevia vs. Agave: Which Sweetener Is Actually Better for You?

    LIFESTYLE 

  • 4
    Clocking 52+ Hours a Week? Your Brain May Be Paying the Price

    LIFESTYLE 

  • 5
    Why Age 6 Is a Critical Year for Childhood Obesity Risk

    LIFESTYLE 

Popular Now

  • 1
    Too Much Sitting May Raise Risk of Alzheimer’s, Even If You Exercise, Study Finds

    LIFESTYLE 

  • 2
    Got a Family History of Rare Dementia? This Gene Might Protect You

    LIFESTYLE 

  • 3
    Experts Say Tea, Apples, and Cocoa Might Be the Secret to Lower BP

    LIFESTYLE 

  • 4
    Living Near a Golf Course? Your Risk for Parkinson’s Might Be Higher

    LIFESTYLE 

  • 5
    Prunes: The Underrated Superfruit Your Cardiologist Might Approve Of

    LIFESTYLE 

Share it on...