The price of gold hit record highs in 2024. It looks like 2025 could continue the streak. At least, that’s the way the year is starting.
The price of gold rose to a new record high on January 30 but pulled back slightly to end the week. Still, its 12-month gain is impressive.
One reason many investment analysts think gold prices will continue to rise is the economic uncertainty by the U.S. tariffs on Mexico, Canada and China.
Kevin Rusher, founder of the real-world asset tokenization platform RAAC, says the tariffs have already “caused a bloodbath” across the stock and cryptocurrency markets.
“However, while equities and cryptocurrencies are bleeding, commodities have held very stable,” Rusher said in an email to ConsumerAffairs. “The price of gold is flat at around $2,800 per ounce at the time of writing, while crude oil futures are up 2.4%, driven by fears of oil supply disruptions from Canada and Mexico.”
Rusher said Canada makes up some 60% of U.S. crude oil imports, and Mexico supplies another 7%, suggesting that’s why oil prices moved in the opposite direction to equities and digital assets.
“When everything becomes clearer and the dust settles, we need to look at this as a reminder of the importance of having stable assets such as real estate, gold, and oil in a balanced portfolio,” he said.
Questions or comments? Email Jim Hood at jhood@consumeraffairs.com.