Gold price hits new record high of $4,225

Gold prices continued to hit record highs, reaching $4,225 per ounce on Thursday, October 16, 2025, driven largely by safe-haven demand amid renewed trade tensions between the United States and China.

On October 10, 2025, US President Donald Trump threatened to impose an additional 100 percent tariff on Chinese exports, along with new export controls on critical software, effective November 1, 2025.

Meanwhile, the US government shutdown is set to enter its third week, as Congress remains deadlocked over a funding plan.

Gold price hits all time record surpassing $4,000 for the first time

Spot gold surged past the $4,000 mark on October 10, edging closer to the previous record of $4,070. Gold has risen roughly 52% in 2025 and was on track for a 3% weekly gain, marking its eighth consecutive week of increases.

Globally, about 50% of gold consumption is in jewelry, 40% in investments, and 10% in industrial use. The largest gold producers are China, Australia, the United States, South Africa, Russia, Peru, and Indonesia, while the biggest consumers of gold jewelry are India, China, the United States, Turkey, Saudi Arabia, Russia, and the UAE.

SP/MA

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