an hour agoAfter record growth, the price of gold undergoes the largest decline in more than a decade
Periskopi(8 months ago)
(8 months ago)Gold prices marked a slight recovery today, as their spectacular growth suddenly stopped the day before. Yesterday, the price of this precious metal fell by more than 5 per cent, representing the largest sale in more than a decade, CNN writes. The decline in gold prices, [...]
Yesterday, the price of this precious metal fell by more than 5 per cent, representing the largest sale in more than a decade, writes CNN.
The decline in the price of gold, which is traditionally considered a safe asset in uncertain times, occurred as investors decided to take advantage of profits after record growth. An additional reason is optimism ahead of a new round of trade negotiations between American and Chinese officials.
At the market today, an ounce of gold was traded at $4,141.48, less than 0.4 percent more. The day before Tuesday, the price of gold dropped by 6.3 percent to $4,082,03 per ounce after reaching a record $4,381.21 on Monday.
The next US gold contracts closed the day by 5.7 per cent to $4,087,70, the largest drop in percentage since April 2013. Silver and Platine prices also dropped significantly Tuesday, dropping by 7 per cent and 5 per cent respectively.
Historic gains in 2025.
Analysts say the sale came after weeks of intensive purchases that pushed gold prices to record levels. Gold has seen historical growth in 2025, with more than 50 per cent increase over periods of turmoil such as those following the September 11th attacks, the 2008 financial crisis, or the Devid-19 pandemic.
In the past two months alone, prices have increased by 25 per cent, driven by demand between the rise of US government debt, political uncertainty and speculation about further reductions of interest rates from the Federal Reserve.
However, optimism about easing trade tensions between Washington and Beijing and the recovery of the US dollar encouraged investors to secure profits.
Despite tensions renewed in recent weeks, trade representatives from the world's two largest economies are expected to meet later this week. A meeting between Chinese leaders Xi Jinping and US President Donald Trump is also planned after that, Reporter reports, broadcasting Periscope.
