Prices For Gold Update Historical Maximum Once Again

• 5.02.2025, 0:10

The cost exceeded $2876 per ounce for the first time in history.

April gold futures on the Chicago Mercantile Exchange (CME) rose by 0.68% to $2876.51 per ounce as of 20:30 Minsk time. Thus, the cost of gold once again broke its historical maximum.

By 23:17 Minsk, the growth slowed down to 0.56%, the metal was trading at $2872.96 per ounce.

The previous historical maximum for gold was recorded at the auction on January 30, when the metal price exceeded $2850 per ounce. This happened amid investors' concerns over the introduction of trade duties by US President Donald Trump, Reuters noted.

In early February, Trump signed an executive order on duties on goods from Canada, China and Mexico. Imports from Mexico and Canada will be subject to tariffs of 25 per cent, while goods from China will be subject to tariffs of 10 per cent. Meanwhile, duties on energy products from Canada will also be 10 per cent. The Associated Press (AP) noted that the tariffs will begin on Tuesday, 4 February.

Gold has repeatedly set new price records in 2024. This was facilitated by the easing of the Federal Reserve monetary policy, the growth of geopolitical tensions and active purchases of the precious metal by major central banks. At the end of the year, gold became one of the most profitable among key commodity assets, adding 27% to its price.