Gold Hits $3,400, Third Milestone in Two Weeks

By Rob Bates | April 21, 2025

The spot price of gold crossed another benchmark on Monday—$3,400 an ounce.

At press time, gold’s price was $3,412 an ounce.

This comes five days after the yellow metal first passed $3,300 and a little over a week since it broke the $3,200 barrier. Gold hit $3,000 for the first time only a month ago.

Analysts generally noted that trade tensions, the volatile U.S. stock market, and fears of President Trump removing Federal Reserve chair Jerome Powell were leading investors to embrace gold as a “safe haven.” Yet some said the nonstop price rise may be a sign of an overheated market.

“These much bigger daily price moves in gold are one early clue this very mature bull market run is close to climaxing and that a near-term market top may be close at hand, from a time perspective, more so than a price perspective,” Jim Wyckoff, senior analyst at Kitco Metals, wrote on its site.

Since this beginning of the year, the price of gold has surged 26.3%—as much as it increased for all of 2024.

(Photo: Getty Images)