Global gold prices surge on May 20 2025
according to webangah News Agency,gold prices climbed to their highest level in a week during Wednesday’s trading session,driven by dollar weakness and investors’ flight to safe-haven assets amid U.S. financial instability.
The spot price of gold increased by 0.40% to $3,303.42 per ounce, while gold futures on New York’s COMEX rose 0.56% to $3,302.90.
The U.S. dollar index fell to its lowest level since May 8, making gold more affordable for holders of other currencies worldwide.
Analysts attribute the dollar’s decline to Moody’s downgrade of U.S.credit ratings and uncertainties surrounding the Trump tax bill proposal.
Gold has historically served as a safe haven during political and economic turbulence, with the current low-interest-rate surroundings further supporting its appeal.
Some Federal Reserve officials beleive easing trade tensions will strengthen labor markets and help inflation move toward the central bank’s 2% target.
Traders now anticipate the Fed may begin cutting interest rates in October, perhaps reducing them by 54 basis points through 2025.
Among other precious metals: silver gained 0.24% to $33.26 per ounce while platinum declined 0.65% to $1,051.23.
