Gold prices experienced sharp fluctuations the day before yesterday, Friday, reaching historic levels exceeding $3,000 per ounce before retreating to $2,985, marking an unprecedented record high.  

A specialized report by **Dar Al-Sabeeh**, a Kuwaiti company, issued today, Sunday, stated that this price increase was driven by several economic and geopolitical factors that significantly impacted gold markets. The price of the precious metal touched $3,004 per ounce, its highest level ever, due to the weakening of the US dollar and rising global trade tensions.  

The report added that this surge coincided with reports showing a decline in US consumer confidence, prompting investors to seek safe-haven assets like gold. However, this rise did not last long, as prices retreated due to profit-taking, reflecting the fluctuations in the US dollar that influence demand for the precious metal.  

It explained that geopolitical factors played a prominent role in gold price movements. The ongoing conflict between Russia and Ukraine increased demand for gold as a safe haven amid escalating security and political tensions in the region.  

The report noted that China boosted its gold reserves for the fourth consecutive month, contributing to overall gold price support. It clarified that China is the world's largest gold buyer, and "its increased purchases during such times bolster global demand for the metal, driving up prices."  

It also highlighted that fears of an economic recession in the United States were influential, prompting traders and investors to hedge against these concerns by increasing investments in gold. This was particularly evident following recent economic data showing rising inflation expectations, which further strengthened the trend toward gold as a hedge against inflation and recession.  

The **Dar Al-Sabeeh** report stated that many experts expect the US Federal Reserve (the central bank) to ease its monetary policy in the coming period due to growing concerns about an economic downturn.  

It added that the trade policies of US President Donald Trump contributed to increased concerns about the impact of imposed tariffs on imports, leading to higher inflationary pressures and greater demand for gold as a safe haven.  

The report explained that bond markets and the US dollar were also affected by gold price movements. Yields on US 10-year Treasury bonds saw a slight increase, negatively impacting gold due to the inverse relationship between bond yields and gold prices.  

It noted that the US dollar index fell by 0.14 percent, increasing gold's appeal in currency markets, as a weaker dollar makes gold more attractive to holders of other currencies.  

The report indicated that investors' focus this week will be on the US Federal Reserve's interest rate decision, along with key economic data such as retail sales, industrial production, and housing market indicators.  

It also mentioned that global markets are awaiting interest rate decisions from several countries, including Japan, China, and the United Kingdom, as well as inflation data from Canada and Japan, and influential economic data from China and Europe.  

Regarding the local market, the **Dar Al-Sabeeh** report stated that 24-karat gold prices reached 29.63 dinars per gram (approximately $90), while 22-karat gold recorded 27.16 dinars per gram (approximately $83). Silver prices stabilized at 375 dinars per kilogram (approximately $1,225).  

An **ounce** is one of the units of mass measurement used in various systems of measurement. It is also called an "ounce" and equals 28.349 grams. When used as a unit of measurement for precious metals, it equals 31.103 grams.