return to news
  1. Gold prices soar to record high levels as US dollar weakens to three-year low

Market News

Gold prices soar to record high levels as US dollar weakens to three-year low

Upstox

1 min read | Updated on April 21, 2025, 02:51 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Gold prices have outperformed every other asset class in 2025 by gaining 28% and added more than 45% in the last year. The bullion demand continues to remain high as uncertainty looms over global trade. The US-China trade tensions escalate furter with tariffs as high as 245% hit the trade between two nations.

Spot gold rates breached the $3,300 mark on Wednesday, reaching $3,318 per ounce.

Gold prices gained more than 25% in 2025 till date. Image source: Shutterstock.

Gold prices hit a new record high on Monday morning amid continuing global uncertainty. Moreover, trade tensions between China and the US escalated further after Trump ordered an investigation into US critical mineral imports. The Gold prices hit a new record high of $3,382 per ounce, gaining more than a per cent on Monday morning.

Gold prices have outperformed all the other asset classes in 2025 and gained more than 40% in the last year. In addition, the Dollar index also fell below 100 to 3-year lows at 98, which boosted the sentiment for the rise in gold prices.

Gold prices also reacted to the latest tweet by President Donald Trump on the non-tariff cheating list. The list includes currency manipulation, VATS, which act as tariffs and export subsidies, Dumping, Export subsidies, counterfeiting, piracy and IP theft and transhipping to evade tariffs.

The non-tariff cheating list indicates serious pain to the US trade as countries try to evade the tariff barriers and offset their impact of tariffs on certain goods and services. Moreover, it also shows Trump’s intentions to escalate the situation further.

Upstox

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story