As of today, May 25, 2023, the price of gold is trading at $1,962.55 per ounce. This is a decrease of 0.2% from yesterday’s price of $1,964.70 per ounce. The price of gold has been on a downward trend since reaching an all-time high of $2,075.72 per ounce in August 2020.
There are a number of factors that could be contributing to the decline in gold prices. One factor is the rising interest rates in the United States. As interest rates rise, the opportunity cost of holding gold increases, as investors can earn a higher return by investing in other assets, such as bonds.
Another factor that could be contributing to the decline in gold prices is the ongoing war in Ukraine. The war has created uncertainty in the global markets, and investors are selling risky assets like gold.
Despite the decline in prices, gold is still seen as a safe haven asset, and it is likely to continue to be in demand during times of uncertainty.