Gold price today, Tuesday, September 23, 2025: New highs for gold after reports China wants custodian role

Core Insights - Gold futures opened at $3,781.20 per ounce, marking a 1.1% increase from the previous close of $3,740.70, reaching a new high for the precious metal [1][2] - The rise in gold prices is attributed to China's move to become a custodian of foreign sovereign gold reserves, with the People's Bank of China increasing its own gold reserves for 10 consecutive months [2][3] - Over the past month, gold futures have increased by 12.9%, and over the past year, the price has risen by 44% [3] Price Trends - The current opening price of gold futures is up 2.7% from the opening price of $3,681.40 one week ago [3] - The increase in gold prices is part of a broader trend, with significant appreciation noted over the past year [3][10] Investment Considerations - Experts recommend holding 5% to 15% of net worth in gold, with some advising up to 20% for risk-tolerant investors [7] - The allocation strategy should consider existing gold assets, including jewelry, to avoid unnecessary transactions [9] - Historical trends indicate that gold has experienced both up and down cycles, impacting overall investment returns [11][12] Market Outlook - Analysts are bullish on gold, with Goldman Sachs predicting a price of $3,700 per troy ounce by year-end 2025, representing a 40% increase from the beginning of the year [13] - Rising demand from central banks and geopolitical uncertainties are key factors driving the increase in gold prices [13]