Gold prices are reaching a record — why is the metal getting more expensive.
Gold has increased its value to 3,3 thousand dollars per ounce due to the weakness of the US dollar ahead of trade agreements between the EU and the US.
The agency Reuters reported this.
What is happening with gold prices
The US Secretary of Commerce believes in the conclusion of a trade agreement between the White House and the European Union but noted that August 1 is the deadline for imposing tariffs.
The dollar exchange rate has decreased, leading to an increase in gold prices. Investors consider gold a reliable asset amid economic instability and low interest rates.
How Ukraine profits from gold
Since the beginning of 2022, the price of gold has almost doubled, reaching over 3,4 thousand dollars per ounce in June 2025. The National Bank earned 480.9 million dollars in 2024 and another 597.6 million dollars in 2025 due to the revaluation of gold reserves.
Gold and Bitcoin are competing for the status of a safe asset, protecting investments from inflation. It is forecasted that a change in market dynamics may occur in 2025.
The signing of trade agreements between the EU and the US has affected gold prices, making them more volatile and susceptible to changes in the market. This could reflect on the dynamics of global financial markets and lead to further strengthening of gold's position as a safe asset.Read also
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