Gold Surges 0.55% to $3,240.28 as Safe-Haven Demand Rises

On May 20, 2025, the price of gold reached $3,240.28 per ounce, showing a notable increase from the previous day's closing price of $3,222.54. This upward movement in gold prices has been consistent over the past few days, with the metal trading at $3,202.61 on May 16 and $3,239.96 on May 15. The price of gold has been on a steady rise, with a significant increase of $55 from the same time last Friday, reaching $3,240 per ounce as of 9:15 a.m. Eastern Time on May 19, 2025. This surge in gold prices has been driven by various factors, including investor sentiment and market conditions.

The current trend for gold is moving upwards, with forecasts indicating that the price could reach as high as $3,290 or as low as $3,195 by the end of the day. As of May 20, 2025, gold was trading around $3,215 per ounce, reflecting a slight decrease from the previous day's high. This fluctuation in prices can be attributed to various factors, including investor sentiment and market conditions. The price of gold has been influenced by safe-haven buying, as investors seek to protect their assets in uncertain economic times. This trend is expected to continue, with gold prices remaining firm as investors await more details on US tariff policies and other economic indicators.

The recent increase in gold prices has also been driven by a surge in demand for the metal, as investors seek to protect their assets in uncertain economic times. This trend is expected to continue, with gold prices remaining firm as investors await more details on US tariff policies and other economic indicators. The recent increase in gold prices has also been driven by a surge in jewelry sales nationwide, as consumers seek to capitalize on the metal's record high of $3,400 an ounce. This surge in demand has contributed to the overall increase in gold prices, as the metal's value continues to rise.