Global gold prices surge today May 23 2025
According to webangah News Agency, gold is poised for its strongest weekly performance in over a month. A weaker U.S.dollar and growing concerns about the financial outlook of the world’s largest economy have boosted demand for gold as a safe-haven asset.
Spot gold prices climbed 0.60% to $3,314.42 per ounce today, while gold futures on New York’s COMEX rose 0.55% to $3,341.90.
The dollar index has fallen more than 1% sence the start of the week,marking its worst weekly performance since April 7th – making gold cheaper for holders of other currencies.
Analysts believe gold will remain above $3,000 as U.S. tariff policies, national debt concerns and geopolitical tensions continue impacting financial markets.
The U.S. House of Representatives approved Trump’s tax and spending bill on Thursday,adding trillions to national debt levels.
The Treasury Department reported weak demand for its $16 billion 20-year bond auction Wednesday following Moody’s downgrade of America’s credit rating.
Meanwhile among other precious metals: silver gained 0.35% ($33.34/oz) while platinum rose 0.59% ($1,088).
