On Wednesday, September 3, gold prices continued their record growth. This was reported by UNN with reference to Reuters.
Details
Spot gold rose 0.1% to $3536.58 per ounce as of 06:45 GMT, after reaching a record high of $3546.99 earlier in the session.
It is also reported that the administration of US President Donald Trump is going to appeal to the Supreme Court with a request to expedite a decision on tariffs that a US appeals court deemed illegal last week.
Recall
Despite the previous increase in the value of monetary gold as a method of saving money, its popularity as a jewelry metal has significantly decreased. As noted in a comment for UNN by financial expert Olena Sosedka, this was most reflected in key markets - India and China.
Gold prices on the global market have become so high that it has reduced the popularity of buying gold jewelry. This was most reflected in such key markets as India and China, but the global decline in demand is felt all over the world. Due to the rising price, former fans of gold jewelry are increasingly preferring other precious metals. Instead, gold is more often considered as a way to preserve capital in conditions of economic instability and high inflation. And not as an item for everyday use
In addition, analysts at Goldman Sachs, one of the largest and most influential investment banks in the world, predict that if the dollar continues to fall, the value of gold will reach $3,700 per troy ounce by the end of 2025.