Gold continued its record hunt at the start of the week. The price of an ounce (about 31.1 grams) rose to as much as $4,096. This made the precious metal more expensive than ever before.
Last Wednesday, the price of gold climbed above the $4,000 mark for the first time. Things on the gold market calmed down somewhat on Thursday and Friday. Gold reached a record high on seven of the past eleven days.
Recently, the fronts in the trade dispute between the USA and China had hardened significantly again. After President Donald Trump announced that he would impose additional 100 percent tariffs on Chinese imports, Beijing threatened countermeasures. According to analysts, this development further increased the flight “to safe haven” – as did the ongoing uncertainty caused by the US government shutdown, which has now lasted several weeks. The fact that US President Donald Trump recently appeared more conciliatory in the trade dispute did not affect the price of gold.
Silver prices are also increasing significantly
The price of silver also continued to rise. The ounce reached another record high of $51.85. Silver has therefore become even more expensive than gold since the beginning of the year. During this time, gold has gained almost 56 percent and silver has gained almost 80 percent.
Gold and silver therefore also performed better than Bitcoin, which, like gold, partly benefits from the geopolitical crises and political uncertainty. The world’s oldest and best-known digital currency also set a record on Monday last week with prices of more than $126,000, but fell significantly on Friday.
Price increase for Bitcoin is stronger in the long term
Bitcoin currently costs just under $115,000. Since the end of 2024, the price has risen by almost a quarter, significantly less than gold. In the medium and long term, however, Bitcoin is ahead. In the past three years, the price of the digital currency has increased by almost 500 percent. This means that the price of a Bitcoin has increased almost sixfold. For comparison: Gold has increased by a little more than 140 percent since the beginning of October 2022.
It becomes even clearer when comparing ten years. Since autumn 2015, gold prices have increased by almost 250 percent; That of Bitcoin has increased by around 46,000 percent – in other words: the price has risen around 460 times or, in absolute terms, from around $250 in autumn 2015 to around $115,000 most recently.
