Gold surged to fresh all-time highs on Monday, with bullion jumping 2.5% to $3,410 per ounce by 11:20 a.m. ET, as mounting distrust in U.S. financial assets and inflation fears drive a flight to safety unlike anything seen since the global debt crises of the early 2010s.
Gold prices exceeded $3,000/oz, with potential to reach $3,500 if investment demand rises. China's insurance sector and central banks may increase gold holdings, while ETF inflows signal growing retail interest. Trade policy uncertainty and a weaker U.S. dollar could further support prices.
The Atlanta Federal Reserve’s GDPNow model projects a 2.4% contraction in the U.S. economy for the first quarter of 2025, while JPMorgan has raised its recession probability to 40%.
Gold's strong rise continues, with the precious metal hitting a fresh record on Thursday as investors rush to shield their portfolios from mounting trade tensions and economic uncertainty.
Kinross Gold shares are trading higher by 3.1% during Monday's session. The company announced its agreement to acquire 15.41 million common shares of Relevant Gold.
Gold has long been considered a safe-haven investment, prized for its stability and ability to retain value over time. Unlike fiat currencies, gold has consistently served as a store of wealth.
Kinross Gold (KGC) had a strong 2024, delivering record free cash flow and improved margins, while reducing debt. CEO Paul Rollinson stated in the announcement.
