Gold price hits record high as investors seek safety
SEP 2 - The price of gold has hit a record high as demand for the precious metal remains strong amid global economic uncertainty. The spot gold price hit Kenya breaking news | Kenya news today |..
✨ Key Highlights
The price of gold has surged to a record high of $3,508.50 per ounce as global economic uncertainty drives investors to seek out the precious metal as a safe haven asset. The consistent rise in price has been significantly influenced by US trade policies and expectations of interest rate cuts.
- The spot gold price reached $3,508.50 per ounce on Tuesday, increasing by nearly a third this year.
- Adrian Ash, director of research at BullionVault, attributes the rise to US President Donald Trump’s impact on geopolitics and global trade.
- Concerns over the independence of the US Federal Reserve are also driving interest in safe-haven assets like gold, according to Derren Nathan from Hargreaves Lansdown.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
Gold Price Hits Record High as BYD Shares Plunge Amid EV Price War - September 2025
Investor behavior has led to significant shifts in global markets. The price of gold surged to a record high of $3,508.50 per ounce as global economic uncertainty, influenced by US trade policies and expected interest rate cuts, drives investors toward the safe haven asset. Conversely, shares in Chinese electric vehicle maker BYD plummeted by as much as 8% on Monday. The stock drop occurred after the company reported a significant drop in profit resulting from an ongoing price war in China’s car sector. An article on the psychology of investing notes that such financial decisions are heavily influenced by emotions and biases, especially in volatile markets.
