Gold Recovers, Heading for Best Year Since 1979
Gold prices recovered on Tuesday after a sharp decline in the previous session, rallying again driven by still-high geopolitical and economic risks. Spot gold rose 0.8% to $4,365.86 per ounce, after falling on profit-taking on Monday. Gold prices had previously reached a record high of $4,549.71 last Friday, but then retreated due to profit-taking. US gold futures also rose 0.8% to $4,380.10.
The precious metal has surged 66% in 2025, registering its biggest gain since 1979. The rise in gold prices has been driven by easing interest rates, geopolitical tensions, strong buying by central banks and inflows into gold-backed ETFs. Analysts predict that a rate cut by the US Federal Reserve in 2026 will support positive momentum for non-yielding gold.
Geopolitical developments also continue to support gold prices, with heightened risks related to the escalating Russia-Ukraine conflict. Meanwhile, silver and platinum also posted significant gains. Silver rose 4.6% to $75.523 per ounce, despite hitting a record high of $83.62 on Monday. Platinum also rose 4.5% to $2,203.07 per ounce, after hitting a previous record high.
Source: Newsmaker.id