Record-breaking gold prices reached new peak levels

In a remarkable turn of events, the prices of gold and silver have surged to multi-year highs, with gold trading above $3,600 per ounce and silver hovering around $40 to over $41 per ounce, as reported by Reuters.

The rise in these precious metals can be attributed to a combination of factors, including expectations of a rate cut by the Federal Reserve this month. This development has fueled investor demand for safe-haven assets such as gold and silver, as lower interest rates tend to reduce the opportunity cost of holding non-yielding assets.

By 7:17 AM Moscow time, the rise in gold price had slowed to 0.76%, trading at $3542.7 per ounce. Meanwhile, silver prices, which exceeded $40 per ounce for the first time since 2011 on September 1, approached their all-time high of $49.82 per ounce. By 9:26 AM Moscow time, December silver futures were up 2.25% to $41.64 per ounce.

Charu Chanani, strategist at Saxo Capital Markets, stated that the surge in gold and silver prices was due to the alignment of "fundamental and technical indicators." Matt Simpson, senior analyst at City Index, echoed this sentiment, noting that these factors had played a significant role in the price increases.

The decision by a U.S. appeals court to rule President Trump's tariffs illegal also impacted the prices of gold and silver. The uncertainty surrounding trade policies and the potential for increased inflation due to the monetary stimulus from the Federal Reserve have further bolstered the appeal of these safe-haven assets.

On September 1, 2025, at approximately 9:26 Moscow time, US gold and silver producer stocks, such as Hecla Mining, saw significant price increases. Hecla Mining was trading near $10 per share, reflecting a strong rally in precious metals and producer equities. The trend was marked by a sharp rally and explosive gains in producer shares, although the exact stock prices of multiple producers at that precise time are not listed.

These developments underscore the ongoing interest in gold and silver as safe-haven assets in times of economic uncertainty and the potential for further price increases as investors continue to seek out non-yielding assets in response to monetary policy decisions and geopolitical events.