Gold prices ended up on Wednesday (9) approaching the record levels recently achieved. The triggered in the search for security assets, given the increase in global commercial tension, supported the appetite for the precious metal.
Business closure occurred before the announcement of revision regarding the imposition of reciprocal tariffs by US President Donald Trump.
At Comex, the New York Mercantile Exchange (Nymex) metal division, the gold contract for June rose 2.98%, closing at $ 3,086.2 per jaguar. At the maxim, gold metal reached $ 3,117.1.
“The upper movement highlights the gold appeal against Donald Trump’s global tariff plans and China’s retaliatory measures,” says Stonex’s Fawad Razaqzada.
For Oversea-Chinese Banking Corp, Christopher Wong, the rally also reflects investor anxiety with tariff threats and a possible reconfiguration of international trade rules.
“Gold continues to be seen as a protection against instability,” says Bart Melek, head of TD Securities commodity strategies.
According to him, the gold in bars rose more than 17% in 2025, beating several records throughout the year.
Another factor that helped boost prices was the growing expectation of a devaluation of the Chinese Yuan, who reached historical minimal at dawn, according to SP Angel.
China was a significant buyer of the metal in 2024, both by consumers and the Central Bank, who increased their reserves amid concerns about economic growth, analysts add.
Last week, gold was affected by the overall settlement wave, but follows among the best performance assets in the year. Deutsche Bank has revised its projections and now see gold at $ 3,139 at the end of 2025.
