Gold surpasses the $4,800 per ounce mark, setting new records.
On Wednesday, January 21, gold prices reached a historic high, surpassing the $4,800 per ounce mark for the first time. This surge is fueled by an increasing demand for the precious metal, which is often viewed as a safe haven amid rising geopolitical tensions and a declining U.S. dollar.
Increase in Gold Futures
The U.S. gold futures for February delivery rose by 1%, reaching $4,813.50 per ounce, reflecting the persistent upward trend in the precious metals market.
Silver and Platinum on the Rise
Alongside gold, spot silver experienced a slight increase of 0.1%, settling at $94.68 per ounce, after having reached a record high of $95.87 the day before.
Meanwhile, spot platinum rose by 0.9%, reaching $2,485.50 per ounce after earlier hitting a historic peak of $2,511.80.
Positive Performance for Other Precious Metals
Palladium also saw a 0.4% increase, stabilizing at $1,873.18 per ounce, benefiting from global market developments and heightened demand for precious metals.
