Gold prices are making headlines again as the spot price soared to $3,43.8 per ounce, marking another record high in a year already filled with new milestones. The latest surge comes amid intensified safe-haven buying, with investors seeking stability as global economic and geopolitical uncertainties persist.
Market analysts note that gold’s momentum has been relentless, with the price climbing nearly $11 in a single day last week before profit-taking temporarily cooled the rally. The demand for gold is being driven by a combination of factors: weakening confidence in other traditional safe-haven assets like the US dollar and Treasuries, ongoing inflation fears, and speculation about future Federal Reserve policy shifts.
Kitco’s live charts show the bid price at $3,43.8 and the ask at $3,43.8 per ounce, with similar gains reflected across other units such as grams and kilos. Despite some caution from Wall Street experts regarding gold’s overbought status, sentiment remains broadly bullish as investors continue to hedge against market volatility.
With gold breaking through the $3,40 barrier, all eyes are on whether this rally will sustain or if a correction is on the horizon. For now, the precious metal’s spot price remains in the spotlight, and investors are watching for the next move.
