Gold continues to break records
16 October 2025 16:12
On Thursday, October 16, gold updated its all-time high, remaining attractive to investors amid the Sino-US trade disputes and the US government shutdown. The prospect of an interest rate cut is also fueling interest in the precious metal.
This is reported by "Komersant Ukrainian" with reference to the Comex.
By 12:09 Kyiv time, the spot price of gold rose by 0.57% to $4,231.62 per troy ounce, updating the record of $4,241.77 during the session. The precious metal has been rising for five days in a row.
Traditionally seen as a safe-haven asset in times of instability, gold has risen 61% since the beginning of the year.
All week, investors have been focused on trade disagreements between the world’s first and second economies. On Wednesday, the US side strongly condemned the expansion of controls on the export of rare earth metals as a threat to global supply chains and threatened China with the severance of economic ties.
“The renewed trade friction is adding to uncertainty across global supply chains,” said WisdomTree’s Nitesh Shah, “Investors are increasingly turning to gold.
According to Shah, the price of an ounce is likely to stay above $4,200.
The situation has arisen due to a combination of factors: a delayed forecast of lower interest rates, political confusion, consistently large purchases by central banks, with money flowing into gold exchange-traded funds, and a weak dollar.
The shutdown, which began two weeks ago, could cost the U.S. economy up to $15 billion a week, a Treasury Department official said Wednesday.
According to CME’s FedWatch tool, traders estimate the possibility of a 25 bp Fed rate cut in October and another step down in December at 98% and 95%, respectively.
Palladium rose by 0.61% to $1,545.47 per ounce, while silver fell by 0.41% to $52.85 per ounce.
The price of platinum increased by 0.48% to $1,662.21.
