Summary
Gold prices recently hit record highs, passing $5,000 per ounce, due to global political uncertainties and economic policies under President Trump. Investors have been buying gold as a safe investment, but recent news about a potential Federal Reserve chairman has slightly lowered the prices. Central banks and countries like China have also influenced gold demand by purchasing large amounts.
Key Facts
- Gold prices reached over $5,000 per ounce for the first time, peaking at $5,500.
- Silver prices also rose, from $35 to around $98 per ounce in a year.
- President Trump's trade policies and threats of tariffs have increased demand for gold as a safer investment.
- Political uncertainties, including wars in Ukraine and Gaza, are contributing to the rise in gold prices.
- Central banks and countries like China are purchasing large amounts of gold, which has affected prices.
- Reports of President Trump potentially nominating Kevin Warsh as Federal Reserve chairman have eased gold price rises.
- Companies like Tether have also acquired significant amounts of gold, boosting market demand.
