Gold has surged past the significant psychological milestone of $3,000 per ounce for the first time on Friday, continuing its historic rally fueled by trade tensions and U.S. interest rate cut expectations, enhancing its appeal as a safe haven asset.
As of 10:31 GMT, spot gold increased by 0.4%, reaching $3,000.39 per ounce. This year alone, gold prices have hit 13 all-time highs, appreciating by over 14%.
The Kobeissi Letter, a leading industry commentary on global capital markets, announced on Friday via Twitter, “Gold prices have officially crossed above $3,000/oz for the first time in history.”