Gold Set New ATH — Market Capitalization Exceeded $30T

• On October 16, the price of gold set a new record.
• The asset reached $4,380 per ounce.
• The rise in the gold price is due to trade tensions between the US and China, as well as expectations of Fed rate cuts.

On October 16, 2025, the gold price reached its all-time high (ATH) at $ 4,380 per ounce, according to TradingView. According to Companies MarketCap, the market capitalization of gold is approximately $30.38 trillion, which underscores its dominance as the primary safe-haven asset for global investors, as noted in The Economic Times.

Since the beginning of the year, the price of gold has risen by more than 60%, driven by geopolitical risks, expectations of aggressive Federal Reserve rate cuts, massive central bank purchases, as well as increasing de-dollarization trends and inflows into gold ETFs. At the time of writing, gold is trading at around $4,360.

Thus, investors are actively moving to safe assets amid heightened market volatility, a weaker US dollar, and expectations of loose monetary policy. This has made gold particularly attractive, experts say.

In particular, Craig Erlam, an analyst at OANDA’s MarketPulse, said:

Meanwhile, according to Reuters, ANZ Financial Group predicts that gold could reach $4,400 an ounce by the end of 2025 and peak at around $4,600 in mid-2026, followed by a correction as the Fed’s rate-cutting cycle comes to an end.

The Trading Economics platform expects prices to stabilize at around $4,066 by the end of the current quarter, with the potential to rise to $4,248 over the next 12 months.

Based on the analyzed material, the following main drivers of the gold rally can be identified:

• Expectations of the Fed’s rate cuts
• Weakening of the US dollar
• Escalation of trade conflicts between the US and China
• Increased demand for safe-haven assets
• Steady purchases of gold by central banks

The previous gold price record was set on September 22 amid a deep correction in the crypto market.