Gold Prices Continue to Surge Amid Global Turmoil
Spot gold climbed approximately 2% to $4,860 per ounce by 0950GMT, after spiking to an all-time peak of $4,888 during earlier trading.
The yellow metal has skyrocketed roughly 77.1% across the previous 12 months, fueled by escalating trade disputes, geopolitical friction, and central bank interest rate reductions worldwide.
Silver experienced parallel gains, advancing 0.66% to $95.11 an ounce. The white metal has explosively surged over 208.4% during the past year.
Market analysts pointed to resurgent geopolitical anxieties—particularly tensions surrounding Greenland after US President Donald Trump's weekend statements threatening additional tariffs on nations resisting American sovereignty over the territory and potential military deployment—as critical factors pressuring investor confidence and bolstering safe-haven asset demand.
Wednesday's trading focus centered on Trump's address at Davos, with investors scrutinizing his remarks for policy signals affecting global markets and commodity valuations.
The precious metals rally reflects growing investor appetite for traditional hedges against uncertainty, with both gold and silver experiencing extraordinary appreciation as economic and political turbulence intensifies across multiple fronts.
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