Algiers, October 29, 2025 – Gold prices experienced a notable upswing today, fueled by increased buying activity following a recent dip to a three-week low. The precious metal rebounded strongly as investors sought safe-haven assets.
Spot gold prices rose by 0.7% to reach $3977.49 per ounce by 01:14 GMT. This increase comes after a decline yesterday, which saw gold hitting its lowest level since October 7th. The recovery signals renewed confidence in gold as a store of value amidst ongoing economic uncertainties.
U.S. gold futures for December delivery also reflected this positive trend, climbing by 0.2% to settle at $3991.70 per ounce. The futures market’s response further validates the strengthening demand for gold.
Other precious metals mirrored gold’s performance. Silver saw a 0.7% increase in spot prices, reaching $47.36 per ounce. Platinum also gained ground, rising by 0.4% to $1593 per ounce. Palladium led the gains among the precious metals, surging by 1.7% to $1417.22 per ounce.
Market analysts attribute the gold price surge to a combination of factors, including concerns about inflation and geopolitical instability. These factors typically drive investors towards gold as a hedge against risk. The overall positive performance of precious metals indicates a broader trend of investors seeking refuge in tangible assets.
The day’s trading activity underscores the continued importance of gold as a key indicator of global economic sentiment. DZWatch will continue to monitor market developments and provide updates on precious metal prices.
