Gold prices soared to unprecedented levels on April 16, 2025, as escalating U.S.-China trade tensions and a significant warning from Nvidia prompted investors to seek safe-haven assets. Spot gold climbed 1.7% to $3,282.88 per ounce, reaching a session peak of $3,290.10, while U.S. gold futures rose to $3,299.60.
The surge in gold prices is attributed to a combination of factors, including a weakening U.S. dollar, intensifying trade disputes, and global economic uncertainties. The dollar index declined by 0.5%, enhancing gold’s appeal to holders of other currencies.
Nvidia’s announcement of a $5.5 billion charge due to U.S. export restrictions on its H20 AI chips to China further unsettled markets, contributing to the flight to gold.
Analysts anticipate that gold will continue to perform strongly amid ongoing uncertainties. ANZ has raised its year-end forecast for gold to $3,600 per ounce, citing sustained investor interest in safe-haven assets.
