AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

4/16/2025: Gold rockets past $3,300

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold rocketed 3.4% higher to a new all-time high near $3,327 as the dollar plunged further and investors scrambled for cover from unpredictable US trade policies. Silver added 0.4% to finish at $32.95 an ounce.

President Trump ordered an investigation into tariffs on all imports of crucial minerals, apparently hoping to pressure trading partners into striking bargains for US exports. The move follows China’s retaliatory statement that it will no longer ship these critical metals and elements to the US.

Fed Chair Jerome Powell acknowledged today that the fallout from Trump tariffs, including higher inflation and slower growth, are likely to be greater than anticipated. He stressed that the Fed is “obligated” to keep inflation expectations under control, and that the central bank can wait “for the time being” before cutting interest rates.

All three major US stock indexes dropped sharply after Powell’s comments, with the Dow and S&P 500 losing 1.8% and 2.3%, respectively, while the Nasdaq tumbled 3.2%.

Benchmark 10-year Treasury yields retreated under 4.3% as investors fled to the perceived safety of US government debt. Lower yields help gold by reducing the opportunity cost for holding it instead of bonds for safety.

The dollar plunged nearly 1% to hover near a 3-year low against major rivals as Forex traders continue eschew it for more dependable safe-haven currencies like the yen and Swiss franc. A falling dollar supports gold and other commodities by making them less expensive in other currencies, increasing overseas demand.

Gold has now risen almost $700 in 2025, propelled by chaotic US trade policies, weakness in the dollar, and aggressive purchases by central banks.

Platinum rose 1% while palladium dipped 0.2%.

At the New York spot close: gold surged $107.90 to $3,326.60; silver rose 61 cents to $32.95; platinum picked up $9.50 to $967.70; and palladium slipped $2.10 to $976 an ounce.