Home / Business and Economy / Gold, Silver Hit New Records Amid Global Uncertainty
Gold, Silver Hit New Records Amid Global Uncertainty
19 Jan
Summary
- Gold and silver prices surged to unprecedented highs.
- Investors are flocking to safe-haven assets due to geopolitical risks.
- US gold futures for February delivery exceeded $4,674.20 per ounce.
Gold and silver prices have ascended to fresh all-time highs, driven by investor demand for safe-haven assets amidst prevailing global uncertainties. U.S. gold futures for February delivery saw a significant rise, climbing 1.71% to $4,674.20 per ounce and surpassing previous records. Spot gold also experienced a substantial increase.
Silver followed gold's upward trajectory, with U.S. silver futures for March delivery reaching a record $93.035 per ounce. This rally in precious metals occurs in the wake of recent geopolitical developments, including U.S. tariff announcements affecting several European nations.
Analysts suggest that the current rise in gold prices is underpinned by strong fundamentals, including the likelihood of falling real interest rates and central banks diversifying their reserves. The outlook indicates potential for further consolidation or upward movement in gold prices, with projected profit margins significantly higher than in recent years.
