Gold prices rose sharply today, bolstered by increasing geopolitical and economic uncertainty, as well as expectations of interest rate cuts in the United States.
Consequently, spot gold transactions recorded an increase of about 1.5%, with prices reaching $4,478.79 per ounce at 01:27 GMT. The precious metal had reached a record high of $4,600.33 earlier in the session.
U.S. gold futures maintained their upward trend, as February contracts rose by 2% to $4,591.10 per ounce.
Following gold’s improvement, spot silver rose by 4.4% to $83.50 per ounce. This rise came after silver hit an all-time high of $83.96 earlier today.
Spot platinum also increased by 2.9% to $2,338.54 per ounce, having recorded a record high of $2,478.50 on December 29th.
Palladium recorded an increase of 4.2%, bringing its price up to $1,892.18 per ounce.
Source: Reuters
United News Network – UNN Arabic
An independent media platform providing reliable news and objective analysis, seeking to promote peace and cultural dialogue worldwide, to convey the truth and build bridges of understanding between peoples.
For more news, you can visit our homepage:
