Gold rose above $2,770 per ounce on Friday, reaching its highest level since October, and just shy of its record high of $2,790, amid weaker dollar and after President Trump called for a reduction in interest rates. Speaking via video to a gathering of global leaders at the World Economic Forum in Davos, Trump delivered a broad policy speech in which he did not explicitly mention the Federal Reserve but made it clear that he would advocate for lower interest rates. Also, traders continued to flock to safe-haven assets, amid uncertainty over the impact of Trump’s proposed tariffs and immigration policies. Meanwhile, investors are closely monitoring policy announcements from global central banks. The BoJ has raised its interest rates as expected on Friday, while the Fed is anticipated to hold rates next week, and the ECB is expected to cut them. For the week, gold is set to mark its fourth consecutive weekly gain.
Gold increased 147.21 USD/t oz. or 5.61% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 2790.07 in October of 2024. Gold - data, forecasts, historical chart - was last updated on January 25 of 2025.
Gold increased 147.21 USD/t oz. or 5.61% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 2657.45 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2759.27 in 12 months time.