Gold price today (April 14) increased slightly, reaching a new record high of US $ 3,245/ounce, breaking the previous record set set on 11.4.
Last week, world gold price increased by more than 6% thanks to the continuous decline of the dollar.
Bloomberg pointed out that the market does not seem to be interested in the tax postponement order with popular consumer electronic items after President Donald Trump on April 13 signaled the signal will impose a separate tax on these items. The weaker dollar makes gold cheaper for foreign investors because gold is valued in the USD.
Gold has increased more than 20% this year when investors rushed to look for shelter in the context of President Trump's rapidly changing trade policy, leading to major fluctuations in the stock market, bonds and dollars, leading to concerns about global economic recession.
"Gold seems to be the most obvious beneficiary from the dollar debates around the dollar. And we witnessed the price of gold soared," Chris Weston, head of the research department at Pepperstone Group, shared.
He added, the view of some traders is that "gold is too hot to sell short but also" too "to buy". Too purchased, yellow has been bought too much, causing the price of gold to increase beyond the actual value.
This week, Bloomberg said that traders will focus on the move of some of the world's largest central banks, in which Singapore and the European Central Bank are expected to loosen monetary policy. Lower interest rates often have a positive effect on gold.
Spot gold price changes, maintained at 3,236.27 USD/ounce as of 10:42 am in Singapore. The Bloomberg Dollar SPOT index fell 0.2%, to the lowest level since October 2024.
