Apr 23, 2025 - Business
Gold keeps getting richer
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Gold futures hit another record this week, at one point topping $3,500 per ounce before later retreating.
The big picture: Gold is up more than 30% for the year, benefiting from the trade war's negative effects on the dollar.
Zoom in: It also came on the same week that Australia's Barrick Gold agreed to sell its 50% stake in Alaska's Donlin Gold mining project for $1 billion to hedge fund manager John Paulson and Novagold.
- Paulson, a billionaire gold bug, said that he expects central banks to keep buying gold — with greater geopolitical instability leading to greater appetites.
