Spot gold breaks through $3,500/ounce, setting a new record high

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On September 2nd, the gold price broke through $3,500 per ounce, reaching a new all-time high. Since 2025, the spot gold price has risen by 33%, highlighting the continued rise in gold's safe-haven value amidst increasing global macroeconomic uncertainty and market volatility. Data shows that in 2025, the proportion of gold held by global central banks in foreign exchange reserves exceeded that of US Treasuries for the first time. Central bank gold purchases and Federal Reserve interest rate cuts will continue to support gold prices, with Bank of America and Goldman Sachs predicting a gold price of $4,000.

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