Gold Prices

Gold prices averaged USD 3,222 per troy ounce in April, up 7.9% from March. On 30 April, the commodity traded at USD 3,308 per troy ounce, up 5.9% from 31 March.

Prices rose at one of the sharpest month-on-month paces in the past decade in April, and hit a fresh all-time high on 22 April. President Trump took center stage, launching worldwide tariffs, escalating the U.S.-China trade war, and threatening to fire the Fed chair, casting doubts on the Fed’s independence. These events stoked safe-haven demand for gold, and made the metal a relatively more attractive purchase by weighing on the USD and Treasury bond yields. ECB rate cuts likely boosted prices further.