Gold surged past 4,000 dollars per ounce on Wednesday, October 29, 2025, climbing over 1.5 percent as investors anticipated Federal Reserve rate cuts and progress in US China trade relations.
At 9:30 a.m. Eastern Time, gold was valued at 4,018 dollars per ounce, representing an 85 dollar uptick from the previous day and more than a 1,231 dollar gain over the past year. Trading Economics data showed gold rose to 4,013.15 dollars per troy ounce, up 1.54 percent from the previous day.
Gold futures opened at 3,967.20 dollars per ounce on Wednesday, nearly flat with Tuesday’s close of 3,966.20 dollars, before the price moved above 4,000 dollars in early trading.
The Federal Reserve is widely expected to lower interest rates by 25 basis points, with CME FedWatch calculating a 99.9 percent probability that the target federal funds rate will drop to a range of 375 to 400 basis points from the current 400 to 425. Lower interest rates tend to boost gold demand, as they reduce the opportunity cost of holding non yielding assets like the metal.
Adding to momentum is optimism around US China trade relations, with President Donald Trump saying Wednesday at the Asia Pacific Economic Cooperation summit in South Korea that he expects to seal a great deal with Chinese President Xi Jinping. Trump is scheduled to meet Xi on Thursday in the coastal city of Busan in their first face to face encounter since the US president launched his second trade war.
Over the past month, gold’s price has risen 3.99 percent and is up 44.08 percent compared to the same time last year. Prices have soared to all time highs, up over 25 percent since the beginning of 2025, fueled by inflation and uncertainty.
The year to date gain now stands at 53 percent, fortified by exchange traded fund inflows cresting 120 billion dollars, including a blockbuster 10.5 billion dollar weekly surge, and central bank hoarding eclipsing 520 tonnes. Market watchers point to a combination of strong central bank buying, economic and geopolitical uncertainties, and concerns over currency debasement as key factors driving sustained interest in gold.
For Ghana, the global gold rally has significant implications as the country is a major gold producer. Higher international prices boost revenues for mining companies operating in Ghana and increase government mineral royalty receipts, supporting the national economy.
