https://sputnikglobe.com/20251023/gold-price-up-again-as-new-us-sanctions-of-russia-add-to-global-risks-1123007090.html
Gold Price Up Again as New US Sanctions of Russia Add to Global Risks
Gold Price Up Again as New US Sanctions of Russia Add to Global Risks
Sputnik International
Gold is on the uptrend again, edging towards recent record highs of nearly $4,400 an ounce, as United States sanctions against Russian’s oil companies Rosneft and Lukoil add new risk to global oil supplies and geopolitics.
2025-10-23T18:56+0000
2025-10-23T18:56+0000
2025-10-23T18:56+0000
economy
business
gold
gold prices
sanctions
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US gold futures for December delivery rose $96.74, or 2.4%, to $4,162.14 an ounce on New York’s Comex by 12:00 pm US Eastern Time (16:00 GMT) on Thursday. The spot price of gold, which reflects global trades in gold bullion, meanwhile, gained $42.04, or 1%, to stand at $4,140.62 an ounce. Both Comex and spot gold rallied for nine straight weeks until last week, with futures hitting a record high of $4,398 and bullion $4,381.60. Toward the end of that rally though, profit taking began to sap at the highs in gold, introducing a late October downdraft that took prices down as much as 5% on Tuesday — their most in a day since August 2020. But the new sanctions against Rosneft and Lukoil, announced by the US Treasury Department on Wednesday, appears to have opened a new path for gold to resume its trek higher. Oil prices jumped 5% on the news.
https://sputnikglobe.com/20251023/chinas-gold-grab-betting-against-weaponized-dollar--us-tariffs-1123002734.html
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gold prices, us russia sanctions
gold prices, us russia sanctions
Gold Price Up Again as New US Sanctions of Russia Add to Global Risks
WASHINGTON (Sputnik) - Gold is on the uptrend again, edging towards recent record highs of nearly $4,400 an ounce, as United States sanctions against Russian’s oil companies Rosneft and Lukoil add new risk to global oil supplies and geopolitics.
US gold futures for December delivery rose $96.74, or 2.4%, to $4,162.14 an ounce on New York’s Comex by 12:00 pm US Eastern Time (16:00 GMT) on Thursday.
The spot price of gold, which reflects global trades in gold bullion, meanwhile, gained $42.04, or 1%, to stand at $4,140.62 an ounce.
Both Comex and spot gold rallied for nine straight weeks until last week, with futures hitting a record high of $4,398 and bullion $4,381.60.
Toward the end of that rally though, profit taking began to sap at the highs in gold, introducing a late October downdraft that took prices down as much as 5% on Tuesday — their most in a day since August 2020.
But the new sanctions against Rosneft and Lukoil, announced by the US Treasury Department on Wednesday, appears to have opened a new path for gold to resume its trek higher. Oil prices jumped 5% on the news.
