Gold rises above $4,300

Gold hit a new high above $4,300 an ounce on Friday, October 17, 2025, and was poised for its best week in over 17 years.

Spot gold rose 0.9% to $4,362.39 per ounce, as of 0439 GMT, after scaling another record high of $4,378.69 earlier.

U.S. gold futures for December delivery jumped 1.7% to $4,375.50.

Bullion has risen about 8.6% this week and is headed for its best week since September 2008, notching a record high in each session.
Spot silver rose 0.3% to $54.41 per ounce, set for an 8.2% weekly gain. Earlier in the session, prices reached a record high of $54.35, tracking the rally in gold and a short squeeze in the spot market.

Stock market records 432.4m shares worth N16.9bn

“(For gold) $4,500 could arrive as a sooner-than-expected target, but much may depend upon how long concerns about U.S.-China trade and the government shutdown linger over the market for,” KCM Trade Chief Market Analyst Tim Waterer told Reuters.

China levelled fresh accusations against the U.S. of causing panic over its rare earth controls, while rejecting calls to reverse export curbs.

Meanwhile, U.S. Federal Reserve Governor Christopher Waller voiced support for another rate cut due to labour market concerns.

Investors are expecting a 25-basis-point reduction at the Fed’s October 29-30 meeting and another reduction in December.

The Star