World shares slip and gold sets a fresh record high of over $3,550 per
ounce
[September 02, 2025] By
ELAINE KURTENBACH
BANGKOK (AP) — The price of gold hit a new record and world shares were
mostly lower on Tuesday after U.S. markets were closed for the Labor Day
holiday.
The spot price of gold, traditionally a haven for investors in times of
uncertainty, climbed as high as $3,578.40 per ounce early Tuesday. That
surpassed an intraday record of $3,509.90 an ounce set in April. It
later slipped back a bit, gaining 1.1% to $3,549.10 per ounce.
President Donald Trump' s challenges to the U.S. Federal Reserve and
other institutions have shaken faith in the U.S. dollar, prompting a
shift into other investment options such as gold and silver, analysts
say.
The price of silver was up 1.8% at $41.46 an ounce on Tuesday,
surpassing $40 an ounce for the first time since 2011.
“That’s not just a price tick; it’s the market’s confession that faith
in fiat is wobbling,” Stephen Innes of SPI Asset Management said in a
commentary. He noted that the price of the precious metal has nearly
doubled since early 2023.
Investors have been shifting away from U.S. Treasuries for years but
that shift has accelerated this year due to worries over U.S. government
debt, trade tensions and geopolitical risks, said Ipek Ozkardeskaya, a
senior analyst at Swissquote Bank.
In early European trading, Germany's DAX dropped 1.1% to 23,767.08,
while the CAC 40 in Paris was nearly unchanged at 7,707.09. In Britain,
the FTSE 100 declined 0.4% to 9,158.78.
The future for the S&P 500 lost 0.5% while that for the Dow Jones
Industrial Average was 0.4% lower.
Since Wall Street was shuttered on Monday, analysts said traders also
were still focusing on the potential implications of Friday's ruling by
a U.S. court against Trump’s higher tariffs on many countries around the
world.
In Tokyo, the Nikkei 225 picked up 0.3% to 42,310.49 as investors
snapped up bargains following recent losses. An auction of 10-year
Japanese government bonds was expected to test the stability of that
market.
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A currency trader passes by screens showing the Korea Composite
Stock Price Index (KOSPI), center left, and the foreign exchange
rate between U.S. dollar and South Korean won, center, at the
foreign exchange dealing room of the Hana Bank headquarters in
Seoul, South Korea, Tuesday, Sept. 2, 2025. (AP Photo/Ahn Young-joon)
 Markets in China fell back from
recent gains. Hong Kong's Hang Seng shed 0.5% to 25,496.55, while
the Shanghai Composite index lost 0.5% to 3,858.13.
South Korea's Kospi advanced 0.9% to 3,172.35, while the S&P/ASX 200
in Australia gave up 0.3% to 8,900.60.
India's Sensex rose 0.4% and the SET in Bangkok gained 0.4%.
The U.S. Court of Appeals for the Federal Circuit ruled Friday, 7-4,
that Trump went too far when he declared national emergencies to
justify imposing sharply higher import taxes on almost every country
on earth.
The ruling largely upheld a May decision by a specialized federal
trade court in New York, but it rejected part of that ruling
striking down the tariffs immediately, giving the Trump
administration time to appeal to the U.S. Supreme Court.
Updates on U.S. durable goods orders, manufacturing, jobless claims
and other data that may provide insights into how the economy is
holding up under the higher tariffs are due this week. European
manufacturing data and a preliminary consumer price index reading
for the countries using the euro also are on the agenda.
In other dealings early Tuesday, U.S. benchmark crude oil gained
$1.86 to $65.87 per barrel. Brent crude, the international standard,
advanced $1.22 to $69.37 per barrel.
The U.S. dollar rose to 148.54 Japanese yen from 147.18 yen. The
euro fell to $1.1635 from $1.1711.
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