Gold hits fresh record near USD 4,380

19 October 2025

Gold Hits Fresh Record Near USD 4,380 as Safe-Haven Flows Accelerate

Today’s markets analysis on behalf of Daniel Takieddine Co-founder and CEO, Sky Links Capital Group

Gold climbed above USD 4,380 per ounce on Friday, setting yet another record before easing slightly, as investors continued to favor the metal amid global uncertainty and growing expectations of further US monetary easing. Despite some profit-taking, bullion remains on track for its ninth consecutive weekly gain.

The rally was also fuelled by concerns over the health of US regional banks, persistent trade frictions between Washington and Beijing, and the prolonged government shutdown, which has disrupted key data releases. Markets are now fully pricing in a 25-basis-point rate cut at the Federal Reserve’s upcoming meeting, with another likely in December, following Powell and other Fed officials’ remarks alongside sluggish Beige Book data that highlighted labour market weakness. The softer tone weighed on the dollar, extending its weekly decline and amplifying gold’s appeal.

Geopolitical tensions further underpinned sentiment. Russia launched a major assault in eastern Ukraine as President Trump prepared to meet Volodymyr Zelenskyy in Washington, ahead of new talks with Vladimir Putin in Budapest. Progress in peace talks could weigh on gold.