From $1,660 to $3,811: How gold prices doubled in three years

Global gold prices have surged by over 130% in the past three years, rising from $1,660 per ounce in 2022 to $3,811 as of September 2025.

The increase reflects growing investor demand for gold as a safe-haven asset amid persistent global economic challenges.

On Monday, September 29, 2025, gold prices reached a record high across major markets, fueled largely by concerns over a potential U.S. government shutdown.

Spot gold rose 1.5% to $3,816.79 per ounce by 9:00 a.m. local time, after hitting an intraday high of $3,819.59 earlier in the session.

Other precious metals also rallied, with silver and platinum climbing to their highest levels in more than a decade.

Global gold prices hit record high

Market analysts attribute the surge to persistent inflationary pressures, heightened geopolitical tensions, currency volatility, and strong demand from central banks, particularly in emerging economies.

Despite ongoing market uncertainties, investors continue to turn to gold as a reliable store of value and a hedge against instability.

Gold price

Three years ago: $1660

Now: $3811 pic.twitter.com/FMlSRvs7i4

— The Spectator Index (@spectatorindex) September 29, 2025

SP/MA

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