By: Ghana web

Gold has pulled back decisively from a record above $4,380 an ounce last Monday following a blistering rally.

Gold clawed back some losses after plunging below $4,000 an ounce in regular trading on Monday as progress in US-China trade talks sapped demand for haven assets.

Gold has pulled back decisively from a record above $4,380 an ounce on Monday, October 28, 2025.

The bullion is still up more than 50% in 2025. Gold prices dipped sharply due following renewed US sanctions on China and India but regained ground as investors reformed on the US Federal Reserve's upcoming policy decision.

The US and Chinese officials announced a framework agreement on on tariffs and other issues, which paved the way for a potential deal between Presidents Trump and Xi. Jinping.

Spot gold rose 0.5% to $4,000.81 an ounce, however, the Bloomberg Dollar Index dipped 0.1%.

Gold price hits new record high of $4,225

Other minerals such as Silver edged higher, after losing 3.7% on Monday, October 27, 2025. 

The biggest producers of gold are China, Australia, United States, South Africa, Russia, Peru and Indonesia. 

The biggest consumers of gold jewelry are India, China, United States, Turkey, Saudi Arabia, Russia and UAE.