The price of gold has reached a new all-time high. The troy ounce was valued at $4,383.78 (the equivalent of around 3,480 francs) in early trading on Monday, surpassing the previous record of $4,381.52 from October.
December 22, 2025, 07:31December 22, 2025, 07:31
The background is a series of economic key figures from the USA that were published last week. The number of new jobs created in the country was below expectations and the inflation rate fell. Both indicated that the US central bank was likely to further reduce its key interest rates.
Investments in gold are currently booming.Image: keystone
Many investors consider gold to be a safe haven in times of crisis. Since the beginning of the year, the price of gold in dollars has increased by more than 68 percent.
2026 stable to rising prices
After the gold price rally this year, the industry expects stable to rising prices in 2026. According to the head of the industry association Precious Metals Association, York Tetzlaff, there is much to suggest that gold prices will remain stable: “Falling interest rate expectations, ongoing geopolitical uncertainties and strong demand from central banks form a robust foundation, even if interim fluctuations cannot be ruled out,” said the expert in Pforzheim.
In his opinion, demand from central banks should remain robust. And geopolitical or trade policy uncertainties, such as customs policy, are also likely, said Tetzlaff.
“If they escalate, the price of gold can react disproportionately.”
The World Gold Council made a similar statement in its outlook: If growth slows or there is even a more severe downturn, moderate to strong gains would be possible. “Conversely, a success of the Trump administration’s policies would accelerate economic growth and reduce geopolitical risks, leading to higher interest rates and a stronger US dollar and depressing gold prices.” (sda/awp/afp)