The price of gold reached a new all-time high on the global market on September 2, benefiting from expectations of monetary easing by the U.S. Federal Reserve. Continued strong demand from investors and central banks is also fueling the upward trend, according to Reuters.
Gold climbed to an unprecedented $3,530 per ounce, surpassing its previous record of $3,500.05 set at the end of April. The intraday increase stood at 1.5%. At the same time, gold futures also hit a new peak, trading around $3,590.40 per ounce in New York.
Several factors explain this surge, experts say.
First, expectations of Fed interest rate cuts.
Second, concerns about the institution’s independence in the face of political pressure. Third, resilient demand from both investors and central banks.
Analysts anticipate the rally will continue. UBS expects new records in the coming quarters, while Standard Chartered forecasts an average price of $3,500 in the third quarter of 2025 and $3,700 in the fourth quarter. In the medium term, gold could trade between $3,600 and $3,900, with a possible test of the $4,000 mark in 2026 if economic and geopolitical uncertainties persist.
In the DRC, gold production was estimated at 43,000 kg in December 2022.
Sources: Reuters, Mining.com
Market: Gold Price Hits Historic Record
